JAKARTA: PT Bank Sumut Bank Sumut, a development bank owned by the North Sumatra provincial administration, plans to issue Rp 1 trillion (US$177 million) in bonds to raise capital.
The bank’s president said in Jakarta on Thursday that the bonds would comprise regular bonds “Obligasi III” and subordinated bonds “Obligasi Subordinasi I”, which would be worth
Rp 600 billion and Rp 400 billion, respectively.
He said that the 5-year Obligasi III had received an A+ rating from local rating agency Pefindo and would carry a coupon with an annual return of between 9.5 and 10.50 percent, while the seven-year Obligasi Subordinasi I bonds would offer a return of between 10.50 and 11.50 percent a year.
“The returns for both bonds will be paid every three months,” he said, adding that the bonds, which would be formally offered to the public between June 27 to 29, would be listed on the Indonesian Stock Exchange (IDX) on July 7. — JP
Sources ; The Jakarta Post | Fri, 05/27/2011 9:57 PM
No comments:
Post a Comment