PT Bank CIMB Niaga Tbk, the fifth-largest bank in Indonesia, plans to sell IDR1.6 trillion of fix-rate subordinated bonds to expand lending.
The 10.85 percent, 10-year notes will be offered from Dec. 17 through Dec. 20 before listing on the Indonesia Stock Exchange on Dec. 27. PT CIMB Securities Indonesia and PT Sucorinvest Central Gani are arranging the sale.
CIMB Niaga collected IDR1.38 trillion 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.
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.
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