PT Bank CIMB Niaga Tbk pick three underwriter to handle subdebt at worth IDR3 triliun. Bahana Securities, Mandiri Sekuritas, and CIMB Securities Indonesia will underwrite the subdebt issuance.
Bank CIMB Niaga opened options to acquire bank of the leading 20 major banks as part of anorganic growth. Subdebt issuance in quarter II is taken to increase capital and support the credit expansion target of 15 percent this year.
In addition to subdebt, the company also plans to have rights issue this year. Rights issue is done to increase the credit growth and boost up the CAR which is currently at the level of 13 percent.
On the other side, BNI and Panin Bank still complain about PBI No. 10/15/PBI/2008 on the commercial bank minimum capital requirement which stipulates bank to obligatorily report to BI upon subdebt payment.
In Article 19 letter B, it stipulates that bank should publish the sinking fund including the bond holders general meeting (RUPO).
Technically investors who plan to buy subdebt fear that the central bank will not give permit for payment due to the various consideration such as CAR and financial capacity.
The condition will raise premium risk set by the investors to the subdebt issuer bank so that the generated funds is no longer competitive, let alone if it is channeled as credit.
In Article 19 letter B, it stipulates that bank should publish the sinking fund including the bond holders general meeting (RUPO).
Technically investors who plan to buy subdebt fear that the central bank will not give permit for payment due to the various consideration such as CAR and financial capacity.
The condition will raise premium risk set by the investors to the subdebt issuer bank so that the generated funds is no longer competitive, let alone if it is channeled as credit.
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