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NOD FOR INDONESIA'S BANK PERMATA TO ISSUE BONDS VALUED AT US$200 MLN

JAKARTA, Jun 04, 2009 (AsiaPulse via COMTEX) --

Company: Astra International (ATIOF)

Indonesia's 10th largest bank in terms of assets, PT Bank Permata (JSX:BNLI), has been given the go ahead by one of its largest shareholders to issue subordinated bond valued up to US$200 million.

Bank Permata needs funds to increase its capital adequacy ratio, says Gunawan Geniusahardja, an executive of Astra International (JSX:ASII), a shareholder of the bank.

Bank Permata is jointly owned by Astra and Standard Chartered Bank, each holding a 40.5 per cent stake with investing public holding the rest.

Gunawan said Bank Permata, which had a CAR of 11 per cent by March, plans to issue the subordinated bond to be offered only to two shareholders, this year, the newspaper Bisnis Indonesia said.

(ANTARA)

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Company: Astra International (ATIOF)


Related terms: bank, bond, bonds, executive, indonesia

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