BTPN pricing bonds coupons at 9.9% & 10.6%

PT Bank Tabungan Pensiunan Nasional Tbk pricing bonds at level 9.9% and 10.6%. The company has increased issuance value of bonds from initial target of IDR750 billion into IDR1.3 trillion due to the high investor demand.

The bond series here consist of two tranches. The A tranche bond with 3 years tenure issuance is worth IDR715 billion and tranche B with 5 years tenure valued at IDR585 billion.

The company has got demand worth above IDR2 trillion. But with the upgrading rating has made BTPN confident to cut down the coupon as form the maximum level of 10.9 percent into 10.6 percent.
BTPN bond issuance is assisted by three underwriters, namely PT Mandiri Sekuritas, PT CIMB Securities Indonesia, and PT Indo Premier Securities.

BTPN opens chance to revise target of credit growth from 30 percent into 40% this year. Last year BTPN credit grew 50% or IDR5.5 trillion. BTPN booked IDR154.6 billion net profit in quarter I/2010 or rose 165% from IDR58.3 billion last year.