PNBN - PT. Bank Pan Indonesia Tbk

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JAKARTA. PT Bank Pan Indonesia Tbk (PNIN), also known as Bank Panin, will issue Shelf-Registration Bond IV Phase II Year 2024 with total principal of IDR 3.91 trillion.

The bond is a part of a more extensive public offering program of Shelf-Registration Bond IV of Bank Panin, with proceeds target set to IDR 15 trillion. Prior to this, PNIN had issued its first-phase bond worth IDR 50 billion as a part of this program.

The second phase of PNIN’s bond has received an “idAA” rating from Pemeringkat Efek Indonesia (Pefindo).

In the issued prospectus, PNIN is said to utilise the entire proceeds of bond issuance for its working capital. “It is for business expansion, particularly credit distribution,” said the management of PNIN.

The public offering will be held on September 25 – October 1, 2024. The electronic distribution of the bond will follow on October 4, 2024, and the listing on Indonesia Stock Exchange (IDX) will take place on October 7, 2024.

Several joint underwriters for this bond issuance appointed by PNIN are PT Panin Sekuritas Tbk (PNIN), PT Evergreen Sekuritas Indonesia, PT Korea Investment and Sekuritas Indonesia, PT Sucor Sekuritas, and PT Aldiracita Sekuritas Indonesia. Meanwhile, PT Bank Mandiri (Persero) Tbk (BMRI) will act as the trustee. (KR/ZH)