JAKARTA: PT Bank Pembangunan Daerah Sumatera Utara offers up to 10.5% yield for its bonds III and 11.5% yield for its subordinated bonds I.The lender issued bonds III in 2011, valuing IDR600 billion and subordinated bonds (subdebt) I 2011, costing IDR400 billion.The proceed will be utilized to finance credit expansion. Around 50% of the subdebt or nearly IDR200 billion shall be considered as complementary capital, he said yesterday.This particular bond owns 5 years maturities with 9.5%-10.5% per year yield indication. For subdebt, it has seven years maturities with 10.5%-11.5% yield indication.PT Pemeringkat Efek Indonesia (Pefindo) grants idA+ rating with stable prospect for such bonds. Pefindo also sets stable prospect with idA rating for the subdebt.PT Mandiri Sekuritas shall serve as the underwriter while PT Bank Mandiri Tbk will function as trustee.It will be difficult for the company to raise emission value supposes there is an excessive demand from market, said Gus Irawan. The bond value is maximum referring to BI regulation (maximum 50% of the capital tier I, he said.He further explained that 50% of the subdebt, serving as tier II capital will boost capital adequacy ratio from 1.5% to 2%.The initial offering period lasts from 26 May to 14 June. The company expects to earn effective statement on 23 June as it will begin offering period on 27 June-29 June.Until the end of last year, the lender being controlled by North Utara provincial government booked IDR12.76 trillion asset.BTPN bondsIn the meantime, PT Bank Tabungan Pensiunan Nasional Tbk intend to issue first phase sustainable bonds I in, valuing IDR500 billion with 8.9%-10.2% coupon. The publicly listed lender is willing to issue IDR2.5 trillion bonds in two years.The bond consists of two series, A and B, said PT Danareksa Sekuritas Investment Banking Director Reza B. Zahar.Series A owns three-year maturity with 8.9%-9.6% coupon indication while series B has 5-year maturity with 9.5%-10.2% coupon indication he said during a public disclosure.PT Fitch Rating Indonesia grants AA- rating for such bond. PT Danareksa Sekuritas, PT Indo Premier Securities and PT Standard Chartered Securities Indonesia shall act as the underwriter.Such first phase bond issuance expects to derive IDR500 billion of IDR2.5 trillion at the most, said BTPN Finance Director Arief Harris Tandjung. The listed lender expects to generate IDR2.5 trillion in two years.He further claimed such bond to be the first bond being used, referring to new regulation of Capital Market and Financial Institution Watchdog.The new regulation allows the company to issue bonds up to two years. (T02/NOM)
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