PT Bank Riau has appointed PT Bahana Securities to underwrite the DIR500 billion bond issuance. The bond issuance is scheduled in semester II/2010.
President Director of Bank Riau Erzon confirm that Bahana Securities was appointed to underwrite the bond issuance.
"We plan to hit the market early September 2010 using March finance statement as the basis of bond offering prospectus. The would be issued bonds have 5 years tenure but it depends on our discussion with the underwriter upon its observation to the market situation," he said last week.
He said the company does not plan to increase the number of bonds despite the mounting investors offers.
"We have anticipated the scheme of using the bond issuance funds so there is no plan to increase the number of bonds issuance."
The fund generated from bond issuance will balance the maturity mismatch of funding resource and financing in the long run.
"We involve in funding the steam-based power plant [PLTU] Merah Putih jointly with other BPD. Besides, there is other power plant projects and toll roads so it needs long run funding."
Erson said Bank Riau this year aims to tap IDR340 billion profits slightly increased from DIR330 billion last eyar.
The slight rising profit here is because the expansion profit will be allocated for opening branch office and adding more ATM networks.
This year Bank Riau targets to increase the networks into 110 branch offices from the current position of 87 branch offices. Besides, Bank Riau will add 35 ATMs as from 84 ATM currently.
"We have more investment and are developing a 15 story headquarter building cost IDR150 billion."
Up to April 2010, the regional development bank booked DIR6.6 trillion credits and this year is targeted to reach IDR8.3 trillion. Last year, the company booked IDR6.7 trillion credits.
President Director of Bank Riau Erzon confirm that Bahana Securities was appointed to underwrite the bond issuance.
"We plan to hit the market early September 2010 using March finance statement as the basis of bond offering prospectus. The would be issued bonds have 5 years tenure but it depends on our discussion with the underwriter upon its observation to the market situation," he said last week.
He said the company does not plan to increase the number of bonds despite the mounting investors offers.
"We have anticipated the scheme of using the bond issuance funds so there is no plan to increase the number of bonds issuance."
The fund generated from bond issuance will balance the maturity mismatch of funding resource and financing in the long run.
"We involve in funding the steam-based power plant [PLTU] Merah Putih jointly with other BPD. Besides, there is other power plant projects and toll roads so it needs long run funding."
Erson said Bank Riau this year aims to tap IDR340 billion profits slightly increased from DIR330 billion last eyar.
The slight rising profit here is because the expansion profit will be allocated for opening branch office and adding more ATM networks.
This year Bank Riau targets to increase the networks into 110 branch offices from the current position of 87 branch offices. Besides, Bank Riau will add 35 ATMs as from 84 ATM currently.
"We have more investment and are developing a 15 story headquarter building cost IDR150 billion."
Up to April 2010, the regional development bank booked DIR6.6 trillion credits and this year is targeted to reach IDR8.3 trillion. Last year, the company booked IDR6.7 trillion credits.
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