JAKARTA. PT Bank Tabungan Negara Tbk (BTN) plans to issue subordinated debt securities to expand the government's program to provide 1 million houses.
Director of BTN, Nixon L.P. Napitupulu, explained that there were two fundraising actions that will be carried out by the company this year. First, BTN will try to obtain bilateral loans with a value of up to Rp 3 trillion.
"Regarding the corporate sub-debt action, we divide it into two. For the rupiah one, the format is loan from one of the state-owned institutions. This is still in discussion with a value of Rp 3 trillion. We expect to finish it before the end of December 2019," he said at the IDX Building, Jakarta on Monday (19/8/2019).
The second action is the issuance of subordinated global debt securities. Its value is estimated at US$ 200-US $ 250 million. The company will hold more than one underwriter for the global bond issuance. The securities will be marketed in Asia, Europe and America. (AM/AR)