Bank Rakyat sells $500 mln five-year bonds below yield guidance 

(Insider Stories)-Indonesia’s largest micro-loan provider, PT Bank Rakyat Indonesia (BBRI), has attracted strong demand for a US$500 five-year senior unsecured bonds, pricing the debt to yield 3.125%, below guidance of 3.375%. The bonds carry 2.950% percent coupon rate.

Bids by investors were 5.3 times oversubscribed from 165 accounts.

The proceeds from the bond sale will be used to finance BRI’s general activities as well as improving the lender’s financing structure.

BRI has assigned Citigroup Global Markets and Standard Chartered Bank as joint book-runners and Bahana Securities as a co-manager in the bond offering. Moody’s Investors Service rates the five-year debt Baa3 while Fitch Ratings gives it BBB-.

Related Posts

• Bank Muamalat offer 30% Shares
• Lippo and Sentul City Develop CBD, Invest IDR8 Trillion
• | Sector data“>Weekly report: Finance minister pick has investors uneasy, while investment and inflation improve | Sector data
• | Company data“>Investment manager Ashmore Group seeks growth in Indonesia - Reports | Company data
• | Company data“>Garuda wants to raise US$200 million from share sales | Company data