Bank Jabar begins Rp 1t bond issue<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Bank Jabar kicked off on Thursday the book-building process for
\nits two tranche Rp 1 trillion (US$107.75 million) bond issue.<\/p>\n
Bank Jabar president director Umar Sjarifuddin indicated the
\ncoupon for the A series bond would be between 11.75 percent and
\n12.25 percent, while the B series would be between 12.25 percent
\nand 12.75 percent.<\/p>\n
\"The A series bond will have a maturity period of three years,
\nwhile the B series will run for five years,\" Umar said.<\/p>\n
He said the proceeds from the bond issue would be used to
\nexpand new loans. The bank, he added, had channeled loans
\ntotaling Rp 7.8 trillion during the first semester of this year.<\/p>\n
Umar said the management of the bank had appointed PT Bahana
\nSecurities, PT Mandiri Sekuritas and PT Andalan Artha Advisindo
\nSecurities to act as the underwriters for the bond issue.<\/p>\n
He said the book-building process would run until Sept. 8, and
\nwould be followed by an offering period from Sept. 22 to Sept.
\n24.<\/p>\n
The Bandung-based bank is 57.1 percent owned by the West Java
\nprovincial administration, 26.6 percent by municipalities and
\nregencies in West Java, 9.7 percent by municipalities and
\nregencies of Banten, and the rest by the Banten administration.<\/p>\n
The bank, which was established in 1961, booked a net profit
\nof Rp 149 billion during the first half of the year after
\nrecording a Rp 176 billion net profit for the whole of 2003.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-jabar-begins-rp-1t-bond-issue-1447893297",
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"sponsor": "Okusi Associates",
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