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Tuesday, May 3, 2011

BPD Sulselbar set 9.5% and 10.4% bond coupon

5/3/2011
Irvin Avriano A.

BPD Sulselbar set 9.5% and 10.4% bond coupon

JAKARTA: PT Bank Pembangunan Daerah Sulawesi Selatan dan Sulawesi Barat (BPD Sulselbar) set I/2011 bond coupon 9.5% and 10.4% for IDR500 billion conventional bond and sukuk mudharabah.

Based on its revised bond issuance prospectus published in newspaper today, the A trache of the bond that tenured 3 years consist of IDR50 bio, while the B tranche tenured 5 years consist of IDR350 bio.

The I/2011 sukuk, a sharia fixed income instrument, consist of IDR100 bio and usually couponed at the same level with the conventional bond, 10.4%.

The bond prospectus, of a company that commandeered by Ellong Tjandra, also is a sign and indicated that the issuance already pocketed effective statement from Capital Market and Financial Institution Supervisory Agency (Bapepam-LK).

In the issuance, the local-regional bank assisted by PT Danareksa Sekuritas and PT Andalan Artha Advisindo Sekuritas (AAA Securities) as lead underwriter, while PT Bank Mandiri Tbk appointed as the trustee.

The bond also already pocketed idA rating from PT Pemeringkat Efek Indonesia (Pefindo), a sacred rating for pension fund investors to invest on the instrument.

In the offering, both Danareksa Sekuritas and AAA Securities don't involving another market participant, or can not offered to another investment bankers, as joint underwriters. The matters showed on the underwriting portion, both the two investment banking house divided the issuance into IDR250 bio, respectively.

Danareksa Sekuritas and AAA Securities together claimed IDR25 bio on A tranche on the bank's conventional bond, IDR175 bio on B tranche conventional bond, and IDR50 bio on I/2011 sukuk.

In the schedule on the prospectus, the BPD Sulselbar's very first time bond and sukuk will be listed on the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia) on May 13th.

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