JAKARTA - PT Bank Negara Indonesia (Persero) Tbk (BBNI) plans to issue a senior debt securities in the US dollar denomination worth 500 million US dollars or equivalent to Rp7.94 trillion.
In a statement in Jakarta, Thursday, BBNI Finance Director Novita Widya Anggraini revealed that the purpose of the issuance was to diversify funding sources and credit expansion in foreign currency.
"This global bond issuance will be used for the expansion of foreign exchange assets with optimal returns that will have a positive impact on the condition of the Company's financial performance, while increasing the Company's capacity to support Indonesia's business development from abroad and abroad," said Novita quoting Antara.
The issuance of the senior debt securities is part of the issuance of the Euro Medium Term Note program formed by the Company on May 6, 2020, as it was updated on March 22, 2021 and March 26, 2024 (EMITN Program). Based on the EMTN Program, the Company can issue debt securities in stages with a maximum principal amount of 2 billion US dollars.
The issuance of these bonds will be listed on the Singapore Exchange Securities Trading.
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The company has appointed BNI Securities, Citigroup, and JP Morgan as Joint Lead Managers. Meanwhile, the S&P, and Fitch rating institutions have given the Baa2, BBB, and BBB ratings to BNI as issuers.
The company has completed market exploration activities as well as pricing related to the plan to issue the senior debt securities on March 27, 2024.
The issuance plan is said to have received a positive response from global investors, marked by oversubscribed up to 6.4 times from the value plan published at the Initial Pricing Guidance (IPG).
"The high demand from global investors is a good indication of the level of confidence of foreign investors in the company if you look at the healthy performance and transformation fundamentals that are currently taking place in BNI, as well as the trust of global investors in the health of the national economy," said Novita.
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