Sep 24, 2010

BTN to launch Rp750 billion ABS

Publicly listed state-owned PT Bank Tabungan Negara Tbk (BTN) is considering to launch Rp750 billion assets-backed securities (ABS) in October.
BTN Finance Director Saut Pardede told Insider Stories that the bank has mandated three underwriters to arrange the ABS issuance. They are PT Kresna Securities, PT Trimegah Securities Tbk, and PT Andalan Artha Advisindo Sekuritas.
"We have also pickes PT Sarana Multi Finance as arranger and fund manager PT Danareksa Sekuritas," he said.
Saut said the 5 year ABS will provide a coupon using benchmark of 25-100 bps above FR0051. BTN may jack up the size to Rp1 trillion when the demand is strong. 

Disclosure: No position at the stock mentioned above.

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