Irvin Avriano A.
BII subdebt potentially up-sized to IDR1.5 trio
JAKARTA: PT Bank Internasional Indonesia Tbk (BII) 7 years I/2011 subordinated bond (sub-debt) potentially upsized to IDR1.5 trillion, from initial successful offering IDR1.2 trio.
The matter was explained on their revised prospectus today, the emitters have already up-sized the issuance from initial offer IDR600 billion to IDR1.2 trio with full commitment mechanism. The potential up-sized will use best effort mechanism.
From the already committed issuance amount, PT Bahana Securities, PT Indo Premier Securities, and PT Mandiri Sekuritas as lead underwriters have sold IDR1.01 trio.
Bahana underwriting consist of IDR337 bio or equal to 28.08% from the issuance, Indo Premier IDR534 bio 44.5%, and Mandiri Sekuritas IDR321 bio 26.75%.
The other underwriters are PT Bumiputera Capital Indonesia with emission guaranteed IDR3 bio or 0.25% and PT Nusantara Capital Securities as much as IDR5 bio which equal to 0.42% underwriting.
The sub-debt issuance already pocketed idAA rating from PT Pemeringkat Efek Indonesia (Pefindo) as well as AA(idn) from PT Fitch Ratings Indonesia, two grade from company's rating at idAAA and AAA(idn), respectively.
The high company' rating related with the bank's ownership by Malaysia Bank Bhd (Maybank) through Mayban