JAKARTA (TheInsiderStories) – PT Permodalan Nasional Madani (PNM), a state-owned financing firm offered local bonds as much as Rp1.35 trillion (US$96.43 million) in this month. The local bond has interest 8.40 to 8.75 percent and get rating id A+ (Single A Plus) from PT Pemeringkat Efek Indonesia.
This year, the company targeting to collect funds Rp6 trillion from the bond issuance. Earlier, PNM has raised funds Rp2 trillion.
Based on the official statement released of Nov. 13, the bonds have two series. Series A with worth of Rp586.5 billion offered with a fixed interest of 8.40 percent per year. The three-year bonds will mature on November 28, 2022.
Series B with a principal amount of Rp763.5 billion has a fixed interest rate of 8.75 percent a year. The duration of this series is five years and will mature on Nov. 28, 2024.
The public offering period for the bonds will take place on Nov. 22 – 25, allotment on Nov. 26, and to be listing at Indonesia Stock Exchange on Nov. 29. The company helped by PT CGS-CIMB Sekuritas Indonesia, PT Indo Premier Sekuritas and PT Mandiri Sekuritas to run the planned.
This year, PNM has channeled funding of Rp15.4 trillion to customers in the ultra-micro segment. The total number of Mekaar–one of the company major program–customers to date is 5,656,170 customers spread throughout Indonesia.
While, on April 22, a state-owned lender PT Bank Tabungan Negara Tbk (IDX: BBTN) has bought 30 percent or 33,000 shares of PT Permodalan Nasional Madani Investment Management (PNMIM) for Rp114.3 billion (US$8.16 million).The party had included a planned to have an investment management company for the periods 2019 – 2021.
This is part of the bank’ business, housing finance, and other related industries. With the presence of the new subsidiary, the company would be more free to collect and provide long-term low-cost funds.
In addition, the new investment management company is also targeted to increase the company’ fee-based income. BBTN plans to sell various investment products with the presence of these subsidiaries.
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