PT Bank BRISyariah issuing bonds worth Rp1 trillion with a tenor seven years, said the company on the prospectus published on Oct. 11. The subordinated sukuk get rating of A + from PT Fitch Ratings Indonesia. The company has appointed Bahana Securities, Danareksa Sekuritas and Indo Premier Securities as underwriters subordinated sukuk mudaraba. The offering carried out on Oct. 12 to Oct. 26. Estimates of the effective date on Nov. 8 and a public offering expected to take place on Nov. 10 to Nov. 11. Meanwhile, the rationing period is expected on Nov. 14, followed by electronic distribution on Nov. 16 and the record date on the Stock Exchange on Nov. 17. According to the plan, the funds obtained from the public offering will be used to strengthen its capital structure in order to support business development activities such as the distribution of funding to be counted as supplementary capital as well as an increase in structural composition association of long-term funds without cut with emission costs.
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