PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) plans to have bond issuance worth IDR700 billion at maximum in two tranches with 3 and 5 years tenure.
Two securities companies have been appointed to handle the bond issuance, namely PT Mandiri Sekuritas and PT CIMB-GK Securities Indonesia.
The Fitch Ratings has scored the long term national rating of BTPN at the level of A+ idn with positive prospect.
The individual rating of BTPN is set on the level of D with supporting rating of level 4.
At the same time BTPN bond issuance scheme has A+ (idn) expectation level.
BTPN rating reflects good asset quality, experiences in credit disbursement to the retired employment, experienced management team, and strong corporate fundamental to tap profit.
Besides, the positive prospect reflects the strong support from the major shareholder, Texas Pacific Group. The prospect shows the initiative to secure BTPN long term funding resource.
Friday, July 10, 2009
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