REPUBLIKA.CO.ID, JAKARTA -- State lender PT Bank Rakyat Indonesia (BRI) Tbk is set to issue the first phase of bonds worth Rp3 trillion to expand its businesses.
They are part of the bonds worth Rp12 trillion that the bank will issue this year, BRI President Director Asmawi Syam stated in a press conference here on Wednesday.
The first phase of the bonds will mature in 370 days, three years, and five years, respectively, he remarked.
BRI Corporate Secretary BRI Budi Satria earlier noted during the day that the 370-day bonds will be issued at a coupon rate of 8.1-8.4 percent, the three-year bonds at a coupon rate of 8.7-9.2 percent, and the five-year bonds at a coupon rate of 9.1-9.6 percent.
The local credit rating agency PT Pemeringkat Efek Indonesia (Pefindo) has assigned its idAAA rating for the bonds.
"We plan to use the proceeds obtained from the issuance of the bonds to expand our businesses particularly to increase the amount of credits to be channeled," Syam affirmed.
The book building period will be June 3-12, 2015, and the effective date will be June 24, 2015. The bank will offer the bonds to the public on June 26 and 29, 2015.
The allotment date of the bonds will be June 30, 2015, and the bonds will be listed at the Indonesia Stock Exchange on July 3, 2015.
PT Bahana Securities, PT Danareksa Sekuritas, PT Indo Premier Securities, and PT Standard Chartered Securities Indonesia will act as the bond issue underwriters.
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