New Issue: Indonesia's Bank Niaga sells $100 million of 10-year subordinated notes at 7.95%

By Reshmi Basu

New York, July 8 - PT Bank Niaga priced $100 million of 10-year lower tier II subordinated notes at 98.188 to yield 7.95%, according to a market source.

The deal priced inside of price talk of 8% to 8¼%.

Citigroup and CIMB Bhd. are the bookrunners

The issuer is a Jakarta-based commercial bank.

Issuer:	PT Bank Niaga
Amount:	$100 million
Issue:	Lower tier II subordinated notes
Maturity:	July 14, 2015
Coupon:	7¾%
Price:	98.188
Yield:	7.95%
Spread:	412 basis points
Call option:	Callable on July 14, 2010 at par, if not called steps up to 618.75 basis points over the then prevailing Treasuries
Pricing date:	July 8
Settlement date:	July 14
Bookrunners:	Citigroup, CIMB Bhd.
Price guidance:	8% to 8¼%

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