Wednesday, October 20, 2010

BTPN plans rights issue IDR1 trilion

PT Bank Tabungan Pensiunan Nasional Tbk plans rights issue to raise IDR 1 trilion for increase capital adequacy ratio (CAR).
Director BTPN Anika Faisal says the company picks PT Danareksa Sekuritas and PT CIMB Securities Indonesia as a undewriter. "Rights issue will increase the capital," she says tonight.
BTPN plans to use prospectus based financial report on june 2010.
Established in 1958, BTPN is a medium-size public bank focusing on Indonesia's pension market. In March 2008, the Texas Pacific Group acquired a 72% stake from a number of local investors. From late-2008, the bank has been an active microfinancing player.
Fitch Ratings has today affirmed BTPN national long-term rating at AA-(idn), Individual Rating at D, Support Rating at 4 and the ratings of its IDR750 billion senior bonds issued in 2009 (Bond I/2009) and IDR1.3 trilion senior bond issued in 2010 (Bond II/2010) at 'AA-(idn). The outlook is Stable.
At the same time, Fitch has assigned an expected AA-(idn) rating to BTPN's proposed senior bond III/2010 amounting up to IDR1.25 trilion with 3 to 5 year maturity. The final rating on the issue is contingent on the receipt of final documents conforming to information already received.

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