Indonesia medium lender PT Bank OCBC NISP Tbk (NISP) has raised Rp2 trillion ($150.38 million) from bond selling after it received a positive response from investors. The offering was oversubscribed by 72 per cent during the book-building period. Also Read : OCBC to buy Barclays’ SG, HK wealth management biz Based on the company statement, the bond issuance is a part of that company’s plans to sell as much as Rp8 trillion within two years time. The bonds has received an effective statement from the Financial Service Agency on April 29. The bond published in three series namely the Series A for a period of 370 days amounted to Rp 837 billion with a 7.5 per cent interest. Series B for a period of two years with amount Rp 380 billion with a 8 per cent interest and series C for a period of three years amounting to Rp 783 billion with interest of 8.25 per cent. “All the funds obtained from the bond issuance will be used entirely to help boost its lending activities,” president director of Bank OCBC NISP Parwati Surjaudaja said. She added, the bond obtain a AAA rating from PT Pefindo Securities Rating Indonesia. The special [...]
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