Indonesia's Bank Mandiri targets 3 trln rph bonds

Published: 02 Nov 2009 17:25:39 PST

JAKARTA, Nov 3 - Indonesia's largest lender, PT Bank Mandiri Tbk <BMRI.JK>, aims to raise 3 trillion rupiah ($314 million) from a 7-year subordinated bond issue in December to boost lending, the bank said on Tuesday.

PT Mandiri Sekuritas, PT Bahana Securities, PT Danareksa Sekuritas and PT Trimegah Securities <TRIM.JK> have been appointed as underwriters for the bonds, which will be offered between Dec. 3-7, the bank said in a prospectus published in Bisnis Indonesia newspaper.

Mandiri, which has a stock market value of $10.22 billion, had not decided the coupon rate for the planned bonds.

The state-controlled lender posted a net profit of 4.62 trillion rupiah in the January-September period and analysts polled by Thomson Reuters I/B/E/S expect Mandiri to post a full year net profit of 6.32 trillion rupiah. ($1 = 9,555 rupiah)