Bank Rakyat Indonesia offering up to US$1 billion dollar bonds | INSIDER EXCLUSIVE
The largest provider of small-scale and micro-lending in Indonesia, PT Bank Rakyat Indonesia (BBRI) began roadshows Monday that will take in Singapore, Hong Kong, London and the U.S. to offer five- and 10-year dollar bonds worth up to US$1 billion, a person familiar with the company’s plans said.
Citi and Standard Chartered are arranging the meetings with potential investors, the person said.
No further details were given on the offering plan. According to Bank Rakyat Chief Executive Sofyan Basir, funds from the planned issuance will be used for lending and strengthening the bank’s capital.
This year, the company expects lending to grow around 20%-22% from last year. In 2011, Bank Rakyat’s total outstanding loans were IDR265.82 trillion ($27.4 billion.) Bank Rakyat also has plans to acquire one mid-sized bank and one securities house in 2013.
