The Jakarta Post
Malaysian controlled Bank CIMB Niaga is issuing a Rp 1 trillion (US$74.82 million) bond to support its credit expansion.
The Rp 1 trillion bond is the second part of its shelf registration of bond, CIMB Niaga treasury and capital market director John Simon said in Jakarta on Wednesday, adding that in November 2016, the bank had issued a Rp 1 trillion bond.
"Through this shelf registration of bond, we have the flexibility to issue bonds within two years or up to 2018," John said in a statement.
The bond has three series. The A series has a 370-day tenor, the B series has a three-year tenor and the C series has a five-year tenor.
The book building period will be from July 12 to 26, the allotment period on Aug. 21 and listing on the Indonesia Stock Exchange (IDX) on Aug. 24.Read also: Tight competition forces CIMB Niaga to leave micro banking
"Rating agency PT Pemeringkat Efek Indonesia (Pefindo) has given id AAA for this second shelf registration of bond. We are optimistic it will be absorbed by investors," John said. (bbn)