Thursday, March 4, 2010

Bank Sumitomo Mitsui plans to issue IDR800 billion bonds

PT Bank Sumitomo Mitsui Indonesia this year plans to issue subdebt worth IDR800 billion. The proceeds generated from the issuance here will be allotted for the capitalization boost and business expansion in Indonesia.
Bank Sumitomo Mitsui Indonesia is joint venture bank controlled by Sumitomo Mitsui Banking Corporation (SMBC) and local investors as the minor shareholder. CIMB Niaga also owns shares in the bank here.
CIMB Niaga then divested 10,961 shares units or 0.71 percent to Sumitomo Mitsui Banking Corporation. Now Japanese investor here owns more than 98 percent shares.
SMBC and International Finance Corporation (IFC) also committed to finance local banks for echo friendly projects with US$5 billion potentials.

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