|
|
Article: INDONESIA'S BANK DANAMON TO ISSUE US$284.5 MLN IN SUBORDINATED DEBT.
- Article from:
- AsiaPulse News
- Article date:
- January 29, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
JAKARTA, Jan 29 Asia Pulse - PT Bank Danamon Tbk (JSX:BDMN) plans to issue some IDR2.4 trillion (US$284.5 million) in subordinated debt to acquire a majority stake in PT Aldira Finance.
Francis A. Rozario, the president director of Bank Danamon, said the company planned to issue subordinated bonds to increase its tier-2 capital and to meet the regulation that it might invest maximum of 10 per cent of its capital.
"The plan of Bank Danamon to acquire the shares of Adira Finance was among the ways for the bank to be the main player at the consumer segment in the country," a press release from Bank Danamon quoted Rozario as saying.
He said that ...