JAKARTA. PT Bank Tabungan Negara Tbk (BBTN), one of the state-owned banks, plans to raise fresh funds of up to IDR 1 trillion through the issuance of the Shelf-Registration Bonds IV of Bank BTN Phase II Year 2022.
These bonds are the extension of the public offering of Shelf-Registration Bonds IV of BBTN, which targeting IDR 8 trillion in total. Previously, in August 2022, the company had issued the first phase of bonds worth IDR 1.5 trillion.
The Series A bonds of these Bonds Phase II will be offered for IDR 600 billion with a fixed interest of 5.50% per annum and a three-year tenor. Then, the Series B will be offered for IDR 400 billion with an annual interest of 6% and a tenor of five years.
In the published prospectus, the management of BBTN mentioned that the proceeds of the bonds issuance will be utilised to fund credit channelling.
The public offering period of these bonds will last from May 17 to 19, 2022. The electronic distribution will follow on May 24, 2022, prior to the recording on Indonesia Stock Exchange (IDX) on May 25, 2022.
The executive underwriter for this arrangement is PT CIMB Niaga Sekuritas, PT Indo Premier Sekuritas, and PT Mandiri Sekuritas. Meanwhile, PT BPD Jawa Barat dan Banten (BJBR) is appointed as the trustee. (KR/ZH)