Japanese Bank Issued 1 Trillion Rupiah Worth Medium Term Notes

indonesias-rupiah-drops-below-12000-dollar-first-time-since-2009

Medium Term Notes blog update courtesy of Reuters.

Japan’s Sumitomo Mitsui Financial Group Inc.’s branch PT Bank Sumitomo Mitsui Indonesia was the lender in the medium term notes. PT Bank Sumitomo Mitsui Indonesia issued 1 trillion rupiah, 79.4 million US-dollars,  worth medium term notes of three-year tenure on Feb. 3. The report comes from the Kontan newspaper, an Indonesia located paper focusing on business and investment news, citing a company statement.

However, Reuter has not been able to verify the news regarding the bank’s 1 trillion rupiah medium term notes at the time of print.

Medium term notes are corporate notes continuously offered by a company to investors through a dealer. Investors can choose from differing maturities, ranging from nine months to 30 years. In this case, the Japanese owned bank’s medium term note has a life of three years.

About PT Bank Sumitomo Mitsui Indonesia

In the beginning of April 2001, PT Bank Sumitomo Indonesia (formerly PT Bank Sumitomo Niaga that was established in year 1989) and PT. Bank Sakura Swadharma (formerly named PT Bank Mitsui Swadharma which was established in year 1989) merged to became PT Bank Sumitomo Indonesia. And on 17 April 2001, the Bank’s name changed into PT Bank Sumitomo Mitsui Indonesia. (SOURCE: PT Bank Sumitomo Mitsui Indonesia’s Website)

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