Bank Negara Indonesia to issue up to USD300m in subordinated debt.
Global Banking News - 27 October 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
PT Bank Negara Indonesia (BBNI.JK), Indonesia's fourth-largest bank by assets, is in the process of issuing up to USD300m in subordinated debt late this year or in January 2010, Dow Jones has reported citing an executive of the bank.
'We will use the proceeds from issuing the bond to strengthen our working capital,' BNI Treasury Director Bien Subiantoro reportedly said. He said that his bank has invited seven foreign securities houses to arrange the bond issue.
BNI Securities, the unit of BNI, will act as co-arranger for the bond, he added.
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