BTN pricing bonds coupon at 10.25%

PT Bank Tabungan Negara Tbk (BTN), the largest credit provider bank for housing loan which listed their stock last year, set the bond coupon of XIV/2010 with 10 years tenure at 10.25 percent.
Formerly, the company offers premium coupon of XIV/2010 bonds worth IDR1.5 trillion by 75-175 basis point (bps) above the yield of the government bonds (SUN) FR0031.
The demand for bonds from underwriter stood at IDR3.3 trillion and it enables the company to increase the bond issuance as from earlier target of IDR1.5 trillion.
BTN is assisted by three underwriters, PT Mandiri Sekuritas, PT Indo Premier Securities, PT Bahana Securities. State Enterprise Ministry still controls over 72.92 percent BTN shares