Friday, June 18, 2010

Indonesia Eximbank raise US$265 loan

Indonesia Eximbank (Lembaga Pembiayaan Ekspor Indonesia) raise US$265 million loan from
The Bank Tokyo-Mitsubishi UFJ Ltd. Standard Chartered Bank, ING Bank N.V. Intesa Sao Paolo, Citibank N.A, Mizuho Corporate Bank Ltd, Industrial and Commercial Bank of China, and Bank of China. The tenure for loan is 2 years and 3 years.
The company also prepares bond issuance in semester I/2011 worth US$300 million and also processes the loans from the World Bank and the Asean Development Bank (ADB)which is expected to disburse US$100 million loans each.
The company set the bond yield in semester I/2010 at 7-10 percent. The bond here will consist of four series with the targeted proceeds worth IDR2.5 trillion and might be upsized to IDR3 trillion when there is mounting demand.
The four series here include the A series with 370 days tenure with yield reference to that of the government sovereign bond (SUN) of FR0016 plus 50-125 basis points or 7-7,75 percent. The B series with 3 years tenure refers to SUN FR0019 plus 50-125 bps or 8.57-9.33 percent yield.
The C series with 5 years tenure refers to the SUN FR0027 plus 50-150 basis points or with 8.82-9.80 percent yield. The D series of 7 years tenure refers to SUN FR0028 plus 50-150 basis points or the coupon at 9-10 percent.

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