Oct 22, 2010

BRI aims to issue Rp3 trio subdebt

State-owned PT Bank Rakyat Indonesia Tbk (BRI) aims to raise Rp3 trillion from subordinated bond issuance early next year. The proceed will be used to underpin business expansion.
A source familiar with the matter, as reported by Bisnis Indonesia today, said the subdebt issuance is part of BRI's financing plan next year.
BRI Head of Investor Relations Haru Koesmahargyo confirmed the bond issuance. "It is right that we plan to issue bond. But, we haven't determined the time, it is in line with the capital need."
The subdebt issuance is hopefully to jack up BRI capital adequacy ratio at the level of 12%. BRI keeps maintaining loan growth at 20%-25% next year.

Disclosure: No position at the stock mentioned above.  

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