Tuesday, October 5, 2010

CIMB Niaga plans to issues subdebt IDR1 trillion

Indonesias fifth largest bank, PT Bank CIMB Niaga Tbk, will offer IDR1 trillion of subordinated bonds to raise its capital adequacy ratio.
CIMB Niaga also a unit of Malaysia's CIMB Group, will launch a rights issue in the early next year. Foremrly, CIMB Niaga collected Rp 1.38trillion in a subordinated bond offering in June, which was less than its target of IDR1.5 trillion.
The bond issuance was carried out by Bahana Securities, CIMB Securities and Mandiri Sekuritas and received an AA-rating with a stable outlook from Fitch Ratings.
Bank CIMB Niaga has aanwijzing Barclays, Standard Chartered Bank, Mandiri Sekuritas, Danareksa Sekuritas to compete for underwriter.

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