|
Panin Bank, one of the country's top ten banks by asset
value, announced Wednesday plans to issue Rp 600 billion (US$65.50
million) in bonds in April to support its business operation.
Deputy president director Roosniati Salihin told a media briefing the
offered bonds would mature over 10 years.
Roosniaty said interest on the bonds would be paid every three months
at a rate ranging from 11 to 11.7 percent for the first five years, but
would increase by 9 to 10 percent afterward.
The book-building period for the bond offering, underwritten by PT Indo
Premier Securities, PT Evergreen Capital and PT Bahana Securities, will
take place between Feb. 20 and 29.
The bonds will be listed on the Indonesia Stock Exchange on April 3.
Executive vice president Hendrawan said part of the proceeds would be
used to refinance bonds issued by the bank in 2003, which are due to
mature this year.
"We don't know the amount that will be refinanced, we'll wait for the
due date and see how much we can get from this second bond issue," he
said.
Last October the bank's audited total asset value was Rp 47 trillion
with net profits of Rp 751 billion. The company disbursed Rp 25.8
trillion in loans last year.
Forty percent of the lending went to commercial sectors, including
small and medium enterprises, 33 percent to corporate sectors and 24
percent went to consumers in the form of mortgages and credit cards.
|
