Want To Be Hundreds Of Millions Of Dollars Selling Bonds, Bank Mandiri Recap

Jakarta – PT Bank Mandiri Tbk is selling bonds worth vigorous recapitulation Usd 54 billion assets. This was done in order to get fresh funds hundreds of millions of dollars in foreign currency loans.

Director of Main Bank Mandiri Zulkifli Zain I said it has a number of selling bonds to recap the Standard Chartered Bank. The sale of such bonds exchanged for foreign currency loans the Bank Mandiri is about US $ 200 million.

"And the next we will do it again with one bank to another, but I can not mention his name. It is near all. Hopefully we will be able (lending US $ 100 million or $ 200 million more, "said Zulkifli was found in the residence of the Governor of Bank Indonesia, Jakarta, Monday (8/8/2012).

In addition, Zulkifli said it would also ask the Government to be able to buy back (buyback) debenture recap owns.

Bank Mandiri was hoping to sell ownership of the bonds (bonds recap) recapitulation which amounted to Rp 80 trillion. Zulkifli claimed, the recap bonds available for sale aka can be sold worth Rp 55 trillion. This recap bonds according to independent Bank in fact just adds to the burden on the company.

Higher burden will be borne of the company due to the yield of the bonds is ready to sell the continent recap Usd trillion low, only belongs to 2%-3%. Whereas the funds does little, if placed on other debt instrument capable of producing yield a minimum of 8%.

Bonds are bonds issued recap Government with respect to Banking Recapitalization Program in 1997/1998. When the Government issued bonds worth approximately Rp 430 trillion. These bonds to strengthen national banking capital dying crashing crisis.

Currently a lot of bonds held by banks, recap the value reaches approximately Rp 200 trillion.

(dnl/dnl)