JAKARTA (TheInsiderStories) - PT Bank Mandiri Tbk (IDX:BMRI) has on Friday (Sept 23) set coupon rates for its Rp5 trillion bonds issue, which will consist of three series – series A, B and C.
Series A bonds worth Rp1.1 trillion will mature in 5 years with coupon rate at 7.95 percent, still within the range of 7.75-8.25 percent per annum it announced earlier; Series B bonds worth Rp1.5 trillion will mature in 7 years with coupon rate at 8.50 percent, which is also within the range of 8.15-8.65 percent it set earlier; and Series C bonds worth Rp2.4 trillion will mature in ten years with coupon rate at 8.65 percent, within the range 8.40-8.90 percent it announced earlier.
The coupon rates will be payable quarterly, beginning from Dec. 30, 2016.
Bank Mandiri’s bond plan is part of financing needs of $1 billion in two years time. Beside issuing bonds, the bank will get the other financing from bilateral loans. The bank’s CEO Kartika Atmodjo said, the fund from bonds and bilateral loan will be used to finance the long-term projects with tenure 5-10 years.
Acting as underwriters of the bonds issue are Mandiri Sekuritas, Bahana Securities, Trimegah Sekuritas and Danareksa Sekuritas. The bonds will be listed on the Indonesian Stock Exchange. (*)