OCBC NISP to issue bonds worth $300 million

Bank OCBC NISP, the Indonesian unit of Singapore-listed Oversea-Chinese Banking Corp, plans to issue bonds worth 3 trillion rupiah (S$300 million) early next year, to maintain its capital adequacy ratio (CAR) at 18 per cent, said chief executive Parwati Surjaudaja.

The firm earlier raised 3.5 trillion rupiah via a rights issue at the end of November to boost its CAR to more than 17 per cent by the end of this year, from 14.9 per cent at end-September.

The firm expects loan growth in 2014 at between 15 per cent and 20 per cent.