Search This Bitch


Share |

Saturday, March 6, 2010

BTPN could boost up bond issuance up to IDR1.25 trillion

Satudary, 06/03/2010 00:00 WIB

BTPN could boost up bond issuance up to IDR1.25 trillion

Irvin Avriano A.

JAKARTA: PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) is potentially to boost up II/2010 bond issuance up to IDR1.25 trillion as from former target of IDR750 billion would the market demand be good.

The soaring potential of bond issuance is unveiled in the rating research report of BTPN bond scheme by the PT Fitch Ratings Indonesia, issued yesterday. The report mentioned the corporate bond issuance is potentially to rise up to IDR1.25 trillion at maximum.

When asked, Director and Corporate Secretary of BTPN Anika Faisal conceded the information. "But it still depends on the demand and market condition," he said yesterday without giving furter details on the bond issuance scheme as it is underway.

Bisnis recorded the company has selected three underwriters to materialize the bond issuance scheme. The three securities companies here include PT CIMB Securities Indonesia, PT Indo Premier Securities, and PT Mandiri Sekuritas.

BTPN plans to use the fund from the 3-5 years tenured bond issuance for credit expansion.

In the research, Fitch Ratings upgraded the bond rating of the would-be issued and the floating bonds from A+ level into AA- level yesterday. Fitch also increased the long term national rating of the company at the same level.

The soaring rating is done by the Fitch following the assessment of assets owned by BTPN. The improvement of assets are supported by the growing and intensive micro financing since 2008. (Bisnis/21)



Bisnis Online Free Automatic Backlink Investing Blogs - BlogCatalog Blog Directory