JAKARTA - PT Bank CIMB Niaga Tbk (BNGA) offers two types of bonds worth a total of Rp 3 trillion, each of the Phase I 2019 Sustainable Bonds amounting to Rp 2 trillion and the 2019 Phase I Continuous Subordinated Bonds amounting to Rp 1 trillion.
As quoted from the public expose question and answer sheet, Senior bonds with a program value of Rp 6 trillion, which in phase I are targeted to be a maximum of Rp 2 trillion and a minimum of Rp 1 trillion. The bonds are offered in four AD series, where Series A interest rates are offered 6% -6.75% for 370 days, Series B is offered 6.50% -7.25% per year for two years, Series C is offered 7% - 7.25% per year for three years, and Series D is offered 7.40% -8.15% per year for five years.
Whereas the Subordinated Bonds with a program value of Rp 2 trillion, which are targeted at the initial stage, have a maximum of Rp 1 trillion and a minimum of Rp 100 billion. The tenor and indication of the range of coupon bonds for subordination namely Series A is offered at 7.75% -8.85% per year for 5 years and Series B is offered at 7.85% -8.60% per year for 7 years.
The bond issuance was offered in the period 18-22 November 2019 and 25-29 November 2019. The target of obtaining an effective statement from the FSA on December 11, 2019 and offered to the public on December 13 and 16 2019. (LK)