BNGA - PT. Bank CIMB Niaga Tbk

Rp 1.010

-10 (-0,98%)

JAKARTA – PT Bank CIMB Niaga Tbk (BNGA) sees to raise Rp 1 trillion by issuing the Shelf Registration Bond II Bank CIMB Niaga Phase II Year 2017.

There will be 3 series of Bonds which are A Series with coupon rate of 6.75% - 7.25% and tenor of 370 days, B Series with coupon rate of 7.40% - 8.15% with tenor of 3 years and C Series with coupon rate of 7.70% - 8.45% and tenor of 5 years. The coupon rate from CIMB Niaga is higher than the government securities noted 7% for tenor of 5 years.

The interest payment will be conducted quarterly with a clean basis, pari passu collateral. The whole fund raised from this bond will be used by CIMB Niaga for the financing of credit expansion.

Pefindo assigned “idAAA” rating PT Bank CIMB Niaga Tbk’s Shelf Registration Bond II/2016. The joint lead underwriters for the bond are PT CIMB Sekuritas Indonesia, PT BCA Sekuritas and PT Danareksa Sekuritas. The appointed bond trustee is PT Bank Permata Tbk. The book building will take place between July 12 – 26, 2017. During the public expose, the Bank and the lead underwriters encourage existing and potential investor to invest in the Bond. (LM)