Bank Mandiri to raise subordinated dollar debt

UBS Warburg was mandated yesterday (Thursday) for a $150 million issue, which is expected launch within the next month. The emergence of the deal is linked to news that the state-owned bank's IPO is being postponed until later this year and is, therefore, more a reflection of Mandiri's desire to make use of the documentation and stay visible with investors rather than any pressing need for fresh capital.