Bank Panin to issue IDR1.5 trillion bonds

PT Bank Pan Indonesia Tbk ensures the issuance of IDR1.5 trillion bonds with five years tenure is scheduled in September this year.
Formerly the would-be issued bonds by Bank Panin stood at IDr500 billion but the management decided to rise the amount into IDR1.5 trillion.
My source said the bond issuance scheme of Bank Panin has been proposed to the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK).
"The bond issuance scheme will be slightly suspended from the former plan of August into September," he said yesterday.
Bank Panin has appointed four securities companies to become the underwriter, namely PT Bahana Securities, PT Danareksa Sekuritas, PT Evergreen Capital, and PT Indo Premier Securities. Corporate Secretary of Bank Panin Jasman Ginting said the funding resources from the bonds enable the company to finance the credit for major corporate and long termed tenures.
"We will issue bonds to balance the funding resource period and deposit," he said last night.
The company has appointed PT Pemeringkat Efek Indonesia and Fitch Rating to assess Bank Panin with its bond issuance scheme.