PT Bank Permata, an Indonesianfinancial services company partly owned by Standard Chartered Plc, raised $100 million selling debt to increase its capital.
Standard Chartered and PT Astra International, Indonesia's biggest car retailer, which own 44.5 percent each of the bank acted as the principal buyers, for the 12-year subordinated
debt, Bank Permata said in a statement to the Indonesia Stock Exchange today.
Banks sell subordinated debt to bolster regulatory reserves. The minimum capital-adequacy ratio, a measure of capital reserves against assets at risk, for banks in Indonesia is 8 percent.
Tuesday, June 16, 2009
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