PT Bank OCBC NISP Tbk picks PT Standard Chartered Securities, PT Danareksa Sekuritas, and NISP Sekuritas become a underwriter for subdebt issuance.
Formerly, net profit of OCBC NISP tended to rise 38 percent into IDR435.9 billion as from IDR316.9 billion in previous year. The credit performance in 2009 rose 11 percent into IDR30.2 trillion.
OCBC NISP plans to issue subdebt more than IDR1 trillion if the market absorb the notes. The company plans to sell notes with tenure 5 years between 7 years.
Subdebt owns the same rights (paripasu) with all subdebts that have existed or will be issued. But the bonds here have junior claim if compared to the obligation claim of deposit and other obligation owned by bank.
Based on BI regulation, subdebt could be included in the Tier II on the CAR calculation within at least five years period. In the half period there is commonly an amortization of CAR.
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