After BNI, Now It's BRI's Turn To Issue IDR 5 Trillion Green Bonds

Photo: Doc. Between

JAKARTA - State-owned banks have begun to target environmentally sound financing. This step is carried out by issuing environmentally sound bonds or commonly called green bonds.

One of the state-owned banks that issued these bonds is PT Bank Negara Indonesia (Persero) Tbk (BBNI) or BNI. BNI issued green bonds last May with a value of IDR 5 trillion.

After BNI, it is now the turn of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) or BRI. BRI targets Rp 15 trillion of funds from the sustainable public offering of environmentally sustainable bonds I.

However, for the first phase, BRI will issue bonds worth IDR 5 trillion.

Citing the offering document released Wednesday, June 22, the bonds were issued in three series. Among them are series A with a term of 370 days, series B with a term of 3 years and series C with a term of 5 years.

In issuing these bonds, the company will start offering them from June 23 to July 1 with an estimated effective period of July 12, the public offering period from July 14 to 15 and listing on the Indonesia Stock Exchange (IDX) on July 21.

BRI ensures that all proceeds from these bonds, after deducting issuance costs, will be used to finance and refinance activities in the environmentally friendly business activity category and for working capital.

If the use of the proceeds from these bonds is to be changed, the plan must be reported in advance to the OJK by stating the reasons and considerations. 30/2015, unless otherwise stipulated in OJK regulations. Changes in the use of these funds can only be made at KUBL which must be accompanied by an opinion or assessment result from an Environmental Expert as regulated in POJK No. 60/2017.

As additional information, in the issuance of these bonds, BRI has appointed BNI Bahana Sekuritas, BCA Sekuritas, BNI Sekuritas, BRI Danareksa Sekuritas, Indo Premier Sekuritas and Mandiri Sekuritas as underwriters.