Indonesia’s Bank Mandiri mandates banks for US dollar bond deal

INDONESIA’S Bank Mandiri has mandated six investment banks to work on a US dollar senior bond deal.

A term sheet seen by Reuters said that the lender and its advisers will hold calls with European and Asian investors starting on Monday (Mar 27). The expected size and tenor of the deal were not specified.

The launch of the bond could happen following the calls, subject to market conditions, the term sheet added.

As at the end of 2022, Bank Mandiri was Indonesia’s largest bank by assets.

A deal by the lender would be one of the first debt deals by a major bank in Asia since the global financial upheaval from Silicon Valley Bank’s collapse and UBS’ takeover of Credit Suisse.

Bank Mandiri did not immediately respond to a request for comment. REUTERS