PT Bank Tabungan Negara Tbk (BTN), a bank focusing in mortgage loan, has appointed three lead underwriters, Bahana Securities, Danareksa Sekuritas, and CIMB Securities, to arrange Rp2 trillion bond issuance in the first half of this year.
A source close to the matter said BTN has determined the underwriters' appointment on last Friday. The proposed rupiah denominated bond may offer 60 basis points to 135 basis points above the coupon of the government bond's FR53.
BTN Director Saut Pardede confirmed that the bank has mandated the underwriters. According to him, the bank will use the proceed to increase its capital.
Disclosure: No position at the stock mentioned above.
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