Indonesian state-owned lender Bank Mandiri has issued senior unsecured notes worth $800 million while another state-owned lender Bank Negara Indonesia (BNI) announced its collaboration with Schroders and Fullerton.
Bank Mandiri issues $800m senior notes
Indonesian state-owned lender PT Bank Mandiri (Persero) Tbk has issued $800 million of senior unsecured notes as part of its $4-billion Medium Term Note Programme, according to a statement on Friday.
The notes, rated Baa2 by Moody’s and BBB by S&P, will be listed on the Singapore Exchange. Priced at 113 basis points over the 3-year US Treasury, they offer a 5.12% yield.
The bank will use the proceeds for general corporate purposes. The issuance saw strong demand, with fund managers acquiring 79% and banks and financial institutions picking 13%. Meanwhile, sovereign wealth funds picked up 3%. Investors from Asia and EMEA contributed 75% and 25%, respectively.
Bank Mandiri’s director of treasury and international banking, Eka Fitria, highlighted that the strong investor confidence reflects the bank’s stability and growth potential despite market challenges.
HSBC, J.P. Morgan, Mandiri Securities, and MUFG acted as joint bookrunners and lead managers.
BNI partners Schroders, Fullerton
Indonesian state-owned lender Bank Negara Indonesia (BNI) has partnered with Schroders and Fullerton Fund Management to tap wealth management market in Singapore.
BNI President Director Royke Tumilaar said “Singapore is a key financial hub in Asia, making it an ideal location for this expansion. Our service is tailored for high-net-worth individuals and the Indonesian diaspora in Singapore who meet accredited investor criteria.”
Through partnerships with Schroders and Fullerton Fund Management, BNI Emerald Singapore offers exclusive investment solutions for accredited investors—defined as those with at least S$2 million in assets or an annual income of S$300,000.
