Apr 12, 2011

BII launches Rp600 billion bond

PT Bank Internasional Indonesia Tbk (BII), a bank that is controlled by Sorak Financial and Maybank, today announced a Rp600 billion of subordinated bond issuance scheduled on May 18 this year. 
The bank will use the bond proceed to expand business focusing on SME, commercial, and consumer.
In the issuance prospectus published today, the bond will be underwritten by three securities houses dubbed PT Bahana Securities, PT Indo Premier Securities, and PT Mandiri Sekuritas.
The proposed subordinated bond has been assigned idAA by PT Pemeringkat Efek Indonesia with stable outlook and AA(idn) with stable outlook by PT Fitch Rating Indonesia.
At end of December last year, BII booked Rp460.99 billion net income, a reversal from Rp40.97 billion net loss in the previous year. Net interest income recorded Rp3.63 trillion last year, a slight increase from Rp3.09 trillion in a year earlier.

Disclosure: No position at the stock mentioned above.

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