JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) or BTN is trying to collect funds from the stock market through the issuance of Bank BTN’s Shelf-Registered Bond III Phase II with a value of as much as Rp 5 trillion to strengthen liquidity. The shelf registration is part of Bank BTN’s Shelf-Registered Bond III with a targeted fund of Rp 10 trillion.
The instrument consists of three series’: Series A with a 370-calendar day tenor, principal amount of Rp 1.505 trillion, and a fixed interest of 7.75% per year; Series B with a three-year tenor, principal amount of Rp 803 billion, and an interest of 8.75% per year; and Series C with a five-year tenor, principal amount of Rp 835 billion, and an interest of 9.00% per year.
“The remaining Rp 1.857 trillion of the offered bond principal will be underwritten with a best-efforts agreement,” BTN wrote in an official statement on the Indonesian Central Securities Depository’s (ICSD) website, Sunday (16/6).
The offering period will take place on June 25, 2019 and the bond will be distributed electronically on June 28. The eight companies appointed by BTN as underwriters are PT Bank BCA Sekuritas, PT BNI Sekuritas, PT CGS-CIMB Sekuritas Indonesia, PT Danareksa Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, PT Mirae Asset Sekuritas Indonesia, and PT Trimegah Sekuritas Indonesia Tbk (TRIM). (MS)