Mandiri prepares for new bond

Bank Mandiri of Indonesia is close to announcing lead managers for a proposed $300 million to $500 million bond deal. In January this year the bank sent out a request for proposals and received 15 responses, according to Paul Tehusijarana, group head of treasury at Bank Mandiri in Jakarta. The bank has whittled that list down to five players, HSBC, Citigroup, JPMorgan, Deutsche Bank and UBS, but "we are still in the process of choosing," says Tehusijarana.