JAKARTA (TheInsiderStories) – The Indonesian Export Financing Agency, known as Indonesia Eximbank, will issue a US$210 million sustainable bond to fund domestic companies’ exports in 2018.
Referring to the bank’s disclosure on the IDX website, Tuesday (30/1), this bond offering will take place on Feb. 8-9, 2018, followed by allotment on Feb. 12, 2018, electronic bond distribution on Feb. 14, 2018 and listing on the Indonesia Stock Exchange on Feb. 15, 2018.
The bonds will be offered in three series: first, Series A bond valued at Rp610 billion with a fixed coupon rate at 6.35 per cent per annum and a tenor of three years; Second, series B amounting to Rp 1.65 trillion with coupon rate of 6.70 per cent and tenor of five years; and third, the C series amounting to Rp206 billion with coupon rate of 6.90 per cent and tenor of seven years. The bonds coupon rates are payable quarterly.
The first bond interest payment will be made on May 14, 2018, while the last payment will be made on Feb. 14, 2021 for series A, Feb. 14, 2023 for series B and Feb. 14, 2025 for series C.
The remainder of the principal amount of Rp 534 billion will be guaranteed in the best possible way.
As of end-2017, the bank has total assets of Rp114 trillion (unaudited). Indonesia Eximbank has been active in providing export financing for the past five years, as reflected in its 32.64 per cent average compound annual growth rate of loans.