May 11, 2011

Bank DKI to issue Rp450 bio bond

PT Bank DKI plans to raise Rp450 billion by issuing rupiah denominated 3 and 5-year subordinated bond scheduled on June 17 2011. 
PT Mandiri Sekuritas is a single underwriter for the bond issuance. Bank DKI has obtained id A+ rating with a stable outlook from local rating agency PT Pemeringkat Efek Indonesia (Pefindo). The bank will use the issuance proceed to support loan expansion.
Bank DKI is 99.76% owned by Pemerintah Propinsi DKI Jakarta and 0.24% owned by Perusahaan Daerah PD Pasar Jaya. The bank posted Rp770.13 billion net interest income and Rp131.48 billion net income.

Disclosure: No position at the stock mentioned above.

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