JAKARTA. PT Bank Victoria International Tbk (BVIC) will issue its Shelf-Registration Subordinated Bond III of BVIC Phase I Year 2024 with total principal of IDR 500 million.

Said bond is a part of a more extensive public offering program of Shelf-Registration Subordinated Bond III of BVIC, aiming to score IDR 1 trillion in total.

In this first round of issuance, BVIC will offer bond with a tenor of 5 years, while the coupon for this bond is yet to be determined.

“The proceeds raised from this Public Offering of Subordinated Bond, after deducting emission fees, will entirely be allocated to working capital in relation to business expansion, especially credit distribution,” said the management of BVIC in the official prospectus.

The initial phase of public offering of BVIC’s phase-I bond will take place from June 11 to 20, 2024. The main public offering will then follow from July 2 to 8, 2024, concluded with the listing on Indonesia Stock Exchange (IDX) on July 15, 2024.

BVIC assigns PT Victoria Sekuritas Indonesia as the underwriter for this subordinated bond, while PT Bank Mega Tbk (MEGA) is named the trustee. In relation to the upcoming bond, BVIC has reportedly secured an “idBBB” rating from Pefindo. (KR/ZH)