TEMPO.CO, Jakarta - Bank UOB Indonesia (UOB) today issued its Sustainable Bond I Phase I 2016 and the Sustainable Subordinated Bond I Indonesia Phase I 2016. The company is targeting the bonds offerings to pull-in Rp3 trillion proceeds from Indonesian investors.
UOB president director Kevin Lam said the bond issuance is an effort to maintain the company's funding sources, thus giving them adequate financing to serve customers.
"To capture opportunities that arise from infrastructure development and consumer demand," Kevin said Wednesday, October 19.
UOB's Sustainable Bond I's first phase of issuance comprise of three series. The 370-day Series A with an interest of up to 7.4 percent a year, the 3-year Series B with up to 8.25 percent annual interest, and the 5-year Series C with up to 8.5 percent annual interest.
The Sustainable Subordinated Bond I Indonesia has an initial issuance value of Rp100 billion. The bond offers an interest rate of 9.25-10 percent a year. "The bond payment is made every three months," Kevin said.
The remaining value of Rp900 billion will be issued next year with considerations over the company's credit growth.
The Sustainable Bond I Phase I 2016 and the Sustainable Subordinated Bond I Indonesia Phase I 2016 were rated AAA and AA by Fitch Ratings Indonesia.
UOB appointed CIMB Securities, Indopremier Securities, Danareksa Sekuritas, and UOB Kay Hian as underwriters for the bond issuances.
DESTRIANITA
