JAKARTA: PT Bank Internasional Indonesia Tbk rose the proceeds target of the to-be-issued subordinated bonds to IDR1.5 trillion from IDR600 billion following the addition of underwriter.PT Bumiputera Capital Indonesia and PT NC Securities are now included as underwriters, adding up to the list of previous underwriters, they are, PT Bahana Securities, PT Indo Premier Securities and PT Mandiri Sekuritas. Mandiri Sekuritas acts as trustee.Regarding the issuance of subordinated bond, both Fitch Rating Indonesia (Fitch) and Pefindo assigned BIIs long-term bond with AA and a stable outlook.The seven-year rupiah subordinated bond has a fixed interest rate of 10.75% per year for the bond principal amount amounted to IDR1.2 trillion with a guarantee of full capability.The remainder of the principal amount, IDR300 billion at the most, is secured by the best commitment.ExpansionAll of the proceeds will be used to increase the productive assets in order to develop its business.BII is Indonesias eight biggest banks with assets amounting IDR75.13 trillion in December 2010 or rose 25% from the previous year.Profit collected in the period was IDR460.98 billion after loss IDR40.96 billion in 2009. Sorak Finansial Holdings Pte controls the bank with 54%, 43.04% with Mayban Offshore Corp Services and the remaining 2.63% belongs to public. (T05/NOM)
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