JAKARTA - PT Bank Tabungan Negara (Persero) Tbk or BTN, will expand its credit distribution this year. Especially after the company raised funds of more than Rp. 1.8 trillion in recent times.
One of them is through a loan from the Japan International Cooperation Agency (JICA) with a value of 7 billion Japanese Yen or around Rp. 806 billion. Citing information from the Head of the Corporate Secretary Division of BTN Ari Kurniawan, the loan involved Citibank Indonesia Branch and PT Bank Centra Asia Tbk or BCA.
In this case, Citibank provides a facility of Rp140 billion with a two-year tenor and BCA Rp420 billion with a three-year tenor. "Receiving financing from JICA will have a positive impact on the company's financial condition and increase cooperation between Indonesia and Japan," Ari wrote recently.
In addition, BTN has also just issued sustainable bonds IV phase II in 2022 amounting to Rp1 trillion. These bonds have been listed on the Indonesia Stock Exchange (IDX), Wednesday 25 May.
These bonds consist of two series, namely series A of Rp600 billion with a three-year term and series B of Rp400 billion with a five-year term.
The rating result from PT Fitch Ratings Indonesia (Fitch) for BTN bonds is AA(idn) (Double A). Acting as Trustees in this issuance are PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk.
According to the offer document, BTN will use the proceeds from the bond issuance as a source of credit financing.
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