JAKARTA. PT Bank Tabungan Negara (Persero) Tbk. (BBTN) is trying to raise funds to provide financing by issuing its Shelf Registration Bonds IV phase I/2020, with a total issuance value of Rp 1.5 trillion.
"The proceeds from the bond issuance, after deducting issuance costs, will all be used by the company to provide financing," said BBTN's management in its prospectus.
According to the information provided by the Indonesian Central Securities Depository (KSEI), the bonds are offered in 3 series; A, B and C. Series A has a total value of Rp 577 billion, an interest rate of 6.75% per year and a tenor of 370 calendar days, Series B has a total value of Rp 727 billion, an interest rate of 7.8% per year and a tenor of 3 years, and Series C has a total value of Rp 196 billion, an interest rate of 8.4%. per year and a tenor of 5 years.
The bonds will be listed on the Indonesia Stock Exchange on 24 August 2020. BBTN has appointed 4 securities companies as underwriters for the bonds. The four companies are PT CIMB Niaga Sekuritas, PT Danareksa Sekuritas, PT Indo Premier Sekuritas, and PT Mandiri Sekuritas.
For information, Pemeringkat Efek Indonesia (Pefindo) has given “idAA +” rating to BBTN's bonds, The rating is valid from 20 May 2020 to 1 May 2021. (KR/AR)