JAKARTA. PT Bank Victoria International Tbk (BVIC) is in the middle of the issuance of its Shelf-Registration Bonds III Phase I Year 2023, targeting to raise IDR 500 billion.

The public offering of these bonds starts today (1/3) and will end on March 6, 2023. The electronic distribution will take place on March 9, 2023, followed by the listing on Indonesia Stock Exchange on March 10, 2023.

These bonds were offered in 2 series: series A of IDR 300 billion and series B of IDR 200 billion. Series A bonds have an interest rate of 9.25% per annum and a tenor of 3 years, whereas series B bonds are equipped with an annual interest rate of 10.25% and a 5-year tenor.

BVIC has obtained an “idA-“ rating from Pemeringkat Efek Indonesia (Pefindo), a local rating agency, for its bonds. For this round of bonds issuance, the company has assigned PT Victoria Sekuritas Indonesia and PT Aldiracita Sekuritas Indonesia as joint lead underwriters.

Based on its prospectus, BVIC plans to use the proceeds of this bonds issuance to bump up its working capital, which will be distributed in the form of credits. (KR/ZH)