10 securities companies compete to be BTN's bond underwiter

Irvin Avriano A. & Christine Felicia A.

for Bisnis Indonesia

10 securities companies compete to be BTN's bond underwiter

JAKARTA: As much as 10 securities companies are competing to be the underwriter of PT Bank Tabungan Negara Tbk (BTN) XIV/2010 bonds worth IDR1.5 trillion--IDR2trillion.

Those companies are PT Mandiri Sekuritas, PT BNI Securities, PT Bahana Securities, PT Danareksa Sekuritas. PT Trimegah Securities Tbk, PT Kresna Graha Sekurindo Tbk, PT Indo Premier Securities, PT Standard Chartered Securities, and PT CIMB Securities Indonesia.

"They will start the selection immediately, after the proposal sent last weekend," said several market players to Bisnis today and last weekend.

BTN will select 3 underwriters to help the company sell the bonds. Besides bonds issuance, BTN also prepares some instruments to lure funding this year worth IDR4 trillion through asset securitization of 3rd phase (KIK-EBA), and medium term notes (MTN).

The state-owned bank targets profit growth this year as much as 10% by boost their business expansion in the housing mortgage and small and medium enterprise (SME) debtors, which targeted will grow by 22%--27%.

When confirmed, BTN Treasury Director Saut Pardede confirmed the news. He explained the company was having a selection of 10 securities that are provided underwriting proposals.(IAA/M04)