Dec 28, 2010

CIMB bond oversubscribes 3 folds

PT Bank CIMB Niaga Tbk (BNGA) has secured three folds oversubscribed during the book building of IDR1.6 trillion bonds issuance.
In a press statement, the bonds, listed at Indonesia Stock Exchange on December 27 2010, obtained AA rating from PT Fitch Ratings Indonesia.
CIMB Niaga is scheduled to pay the bonds principal at the end of 10 year. PT CIMB Securities Indonesia is the only lead underwriter for the bonds.
CIMB Niaga has secondly issued the subordinated bonds this year. The IDR1.38 trillion first issuance was made in July with 7 year maturity. Previously, CIMB Niaga offered the bonds at 10.5%-11%. At the closing, the bank determined the coupon at 10.85%.

Disclosure: No position at the stock mentioned above.  

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