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Jakarta Post

Economy in brief: Mandiri to issue Rp 3t PUB bonds

  • The Jakarta Post

Jakarta   /   Fri, August 10 2018   /  02:54 am

State-owned lender Bank Mandiri plans to issue shelf registration bonds (PUB) I phase III, with the target of obtaining Rp 3 trillion (US$207.79 million), a bank executive said.From the PUB I phase I issuance in 2016, the bank managed to collect Rp 5 trillion, while from PUB I phase II issuance last year, it collected Rp 6 trillion.The proceeds from this year’s bond issuance would be used to strengthen the bank’s funding structure and to expand its loan disbursement, Mandiri financial executive officer Panji Irawan said in Jakarta on Wednesday.“The purpose [of the bond issuance] is to expand loan disbursement. It will be good if Mandiri has a source of funds with five-year tenor for funding diversification, not only from third-party funds,” he added.Meanwhile, Mandiri treasury and international banking director Darmawan Junaidi said the bonds would have five-year tenor with a cou...