INDONESIA’S LARGEST BANK TO ISSUE BONDS TO SUPPORT EXPANSION

JAKARTA, Indonesia, Jan 4 (NNN-ANTARA) – Indonesia’s largest bank, in terms of asset, Bank Rakyat Indonesia (BRI), planned to issue bonds, at a total amount of 20 trillion rupiah (about 1.3 billion U.S. dollars), in a bid to support its business expansion plans, in the next three years, an executive of the state bank BRI said here, on Thursday.

“The bond issuance would be conducted gradually, to commence in the first semester this year, until 2021,” BRI Financial Director, Haru Koesmahargyo said, on the sidelines of the bank’s shareholders meeting here.

The bonds would be issued in three phases, with two of them equally, amounting to eight trillion rupiah (about 555.2 million U.S. dollars), followed by the last one, amounting to four trillion rupiah (about 277.5 million U.S. dollars).

Proceeds from the bond issuance would be used to finance its plans, to acquire a general insurance firm, he added.– NNN-ANTARA

Source: NAM News Network

INDONESIA’S LARGEST BANK TO ISSUE BONDS TO SUPPORT EXPANSION

JAKARTA, Indonesia, Jan 4 (NNN-ANTARA) – Indonesia’s largest bank, in terms of asset, Bank Rakyat Indonesia (BRI), planned to issue bonds, at a total amount of 20 trillion rupiah (about 1.3 billion U.S. dollars), in a bid to support its business expansion plans, in the next three years, an executive of the state bank BRI said here, on Thursday.

“The bond issuance would be conducted gradually, to commence in the first semester this year, until 2021,” BRI Financial Director, Haru Koesmahargyo said, on the sidelines of the bank’s shareholders meeting here.

The bonds would be issued in three phases, with two of them equally, amounting to eight trillion rupiah (about 555.2 million U.S. dollars), followed by the last one, amounting to four trillion rupiah (about 277.5 million U.S. dollars).

Proceeds from the bond issuance would be used to finance its plans, to acquire a general insurance firm, he added.– NNN-ANTARA

Source: NAM News Network