Three lead underwriters of subordinated bond of PT Bank OCBC NISP Tbk (NISP) have fully provided commitment of underwriting of up to Rp700 billion, while the remaining is underwritten with best effort commitment. OCBC NISP initially plans to issue Rp1 trillion of subordinated loan.
The underwriters, PT Standard Chartered Securities Indonesia, PT Danareksa Sekuritas, and affiliated brokerage PT NISP Sekuritas.
According to prospectus published today, if the market didn't absorb the remaining bond of Rp300 billion, OCBC NISP were not obliged to issue the subordinated bond.
NISP Sekuritas has fully provided commitment to absorb Rp392 billion or 56% of Rp700 billion, Danareksa Sekuritas has fully provided commitment to absorb Rp193 billion or 27.57%, and foreign brokerage Standartd Chartered Securities has only provided a full commitment of Rp115 billion or 16.43%.
OCBC NISP and three underwriters have agreed to provide an annual coupon of 11.35% to bond holders.
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