JAKARTA. PT Bank Mandiri (Persero) Tbk (BMRI) will issue a bond in rupiah with an indicative target of Rp 1 trillion to support its capital structure and expansion plans this year.
The issuance is the first phase of the company's Shelf-Registered Public Offering II 2020, which has a total size of Rp 20 trillion. The offering consists of two series', namely Series A with a five-year tenor and an interest rate of 7.50%-8.60% and Series B with a seven-year tenor and an interest rate ofo 8.30%-9.40%.
The first bookbuilding period will take place from April 6-20, 2020 while the public offering period is scheduled for May 5 and 6.
According to BMRI Treasury, International Banking, and Special Asset Management Director Darmawan Junaidi, the bond will provide a stimulus for the company's business. "We are committed to strengthening our funding structure, especially amid the coronavirus pandemic and global uncertainty," Mr Junaidi told IDNFinancials.com.
BMRI has appointed five securities companies as underwriters: Mandiri Sekuritas, BNI Sekuritas, Danareksa Sekuritas, BCA Sekuritas, and Trimegah Sekuritas Indonesia. The bond has also been awarded an AAA rating by Pefindo. (KR/MS)