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Jakarta Post

CIMB Niaga taps into bond market to boost financing capacity

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, November 19, 2019   /  05:42 pm
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A man conducts a transaction at a CIMB Niaga ATM in Jakarta.(Antara/Rosa Panggabean)

Private lender CIMB Niaga will issue a series of regular bonds and subordinate bonds to strengthen its capital structure and financing capacity amid reports of liquidity tightening in the banking system. CIMB Niaga strategy and finance director Lee Kai Kwong said in Jakarta on Monday that regular bonds, which comprise series A, B, C, and D, and subordinate bonds consisting of series A and B, will be issued in stages until the end of 2020. The two different bonds will all be in the form of shelf registration bonds. Lee said the bank expected to raise Rp 1 trillion  (US$71.42 million) from the first phase of the regular bond issuance and Rp 100 billion from the subordinate loans, which would be offered later this month.  “We hope these obligations entice investors and boost further growth in CIMB Niaga’s business operations,” Lee said. In total, the ...