JAKARTA. PT Bank Sinarmas Tbk (BSIM) will issue the Shelf-Registration Subordinated Bonds I Phase I Year 2022 of IDR 500 billion to raise its core capital.
This round of bonds issuance is a part of the public offering program of Shelf-Registration Subordinated Bonds I of BSIM, aiming for a total of IDR 3 trillion. For this upcoming first phase, BSIM will offer a coupon of 6.50% per year with a tenor of five years.
In the published prospectus, the management said to have planned to utilise the entire proceeds of the subordinated bonds issuance to improve the supplementary capital to tier 2. “It is to sustain the plan of credit distribution with a longer tenor,” the management clarified.
According to idnfinancials.com data, BSIM has an authorised capital of IDR 6.67 trillion at the end of March 2022. This core capital increased 28.11% compared to the same period last year.
The public offering of this first phase of subordinated bonds issuance of BSIM will take place from July 1 to 5, 2022. Then the electronic distribution will follow on July 8, 2022, prior to the listing on Indonesia Stock Exchange (IDX) on July 11, 2022.
BSIM has received an “idA” rating for the upcoming bonds. BSIM has also appointed PT Aldiracita Sekuritas Indonesia, PT BCA Sekuritas, and PT Mandiri Sekuritas as the underwriters for this corporate action. (KR/ZH)