Bank Rakyat Indonesia to Issue Rp 20t of Bonds

Bank Rakyat Indonesia seeks to raise Rp 7 trillion ($537 million) in proceeds from selling bonds next month to support its loan expansion plan. (ID Photo/David Gita Roza)

By : Cindy Silviana | on 1:00 PM July 22, 2016
Category : Business, Banking/Finance

Jakarta. State-controlled lender Bank Rakyat Indonesia plans to issue bonds worth Rp 20 trillion ($1.53 billion) to refinance maturing debt and to take advantage of repatriated funds from the government's tax amnesty program, its chief financial officer said on Friday.

The bank will sell Rp 10 trillion of the bonds this year and the rest next year, CFO Haru Koesmahargyo told reporters.

Bank Rakyat is also considering to issue 5 trillion rupiah of medium-term notes this year if market condition is favorable.