TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Bank Victoria to issue Rp 350 billion of bonds in July
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
PT Bank Victoria International Tbk deputy president director Rusli Lim speaks during the bank's public expose at the Indonesia Stock Exchange (IDX) in Jakarta on May 29. (JP/Anton Hermansyah)
P
ublicly listed lender PT Bank Victoria International plans to issue Rp 350 billion (US$26.27 million) worth of bonds in July to strengthen its funding and to refinance previous bonds that will mature this year.
The bonds will fall under two groups – senior bonds worth Rp 300 billion with a five-year tenor and subordinate bonds worth Rp 50 billion with a seven-year tenor – Bank Victoria deputy president director Rusli Lim said on Monday.
The senior bonds have an A- rating from local credit raters PT Pemeringkat Efek Indonesia (Pefindo), while the subordinated bonds have a BBB rating.
"Currently, we are in the book-building process, we expect the bonds to be issued around July," Rusli said during a public expose at the Indonesia Stock Exchange (IDX) building in Jakarta.
The bonds are part of Rp 1 trillion in shelf registration bonds that the bank can issue at any time until 2019. The shelf registration senior bonds have a Rp 600 billion limit, while the subordinated bond limit is Rp 400 billion. "For now, we are issuing Rp 350 billion, we do not plan to issue next year as our capital adequacy ratio is relatively high at 21 percent. We will issue the rest in 2019," he said. (bbn)
