Aiming for IDR 200 billion, Bank UOB to offer bonds with highest coupon of 7.50%
JAKARTA. PT Bank UOB Indonesia is issuing Shelf-Registration Bond IV Phase I Year 2024 and Shelf-Registration Subordinated Bond IV Phase I Year 2024 with total principal of IDR 100 billion each.
Shelf-Registration Bond IV Phase I Year 2024 is issued by Bank UOB Indonesia with a fixed interest rate of 6.70% per annum. The interest is paid every three months with a tenor set to 370 calendar days.
Meanwhile, the Shelf-Registration Subordinated Bond IV Phase I Year 2024 is offered with a coupon of 7.50% per annum. The interest is also paid every three months, but with a tenor of 7 years.
In the issued prospectus, Bank UOB Indonesia is said to use the entire proceeds from bond issuance to enhance its credit channelling.
Bank UOB Indonesia has assigned PT Indo Premier Sekuritas and PT UOB Kay Hian Sekuritas as the lead underwriters of bond and subordinated bond issuance. The ratings recorded by the company for both securities respectively are “AAA(idn)” and “AA(idn)”.
The public offering of both bond sets will take place from June 20-21, 2024. Distribution of the bonds is set to follow on June 26, 2024, while the listing on Indonesia Stock Exchange will be on June 27, 2024. (KR/ZH)