BBRI - PT. Bank Rakyat Indonesia (Persero) Tbk

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JAKARTA. PT Permodalan Nasional Madani (PNM), a financing service company owned by PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), will issue Shelf-Registration Bond V Phase II Year 2024 with total principal of IDR 1.67 trillion.

Said bond is a part of a more extensive Public Offering of Shelf-Registration Bond V of PNM, targeting total proceeds of IDR 10 trillion. Prior to this, the company had issued its first-phase bond with total principal of IDR 1 trillion.

For the second phase of bond issuance, PNM will offer 2 series of bonds. The principal set for series A is IDR 1.33 trillion with a coupon of 6.40% per annum and a tenor of 370 day. Meanwhile, series B will be offered for IDR 341 billion with a coupon of 6.55% per annum and a tenor of 3 years.

PNM had obtained an “idAA+” rating from Pefindo, a local rating agency, for this upcoming bond. For this bond issuance, the parties assigned as joint lead underwriters and joint underwriters include PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, PT Indo Premier Sekuritas, and PT Mandiri Sekuritas.

In the published prospectus, PNM plans to use the entire proceeds of the bond issuance as a working capital boost. Next, said working capital will be allocated to MSME financing.

The public offering program of this bond will take place on March 13-15, 2024, followed by the electronic distribution on March 20, and listing on Indonesia Stock Exchange (IDX) on March 21. (KR/ZH)