People walk past UOB Group's ATMs at the bank's head office in Singapore on Feb. 13, 2015. (Reuters Photo/Edgar Su)
UOB to Issue Rp 1.5t Bond
FEBRUARY 24, 2015
Jakarta. Bank UOB Indonesia, a private bank owned by UOB Group of Singapore, will issue a Rp 1.5 trillion ($117 million) bond on March 24-26, in order to boost lending this year.
The bank said in a statement on Monday that it would issue three series of debt papers: the A series will mature in one year; the B series three years; and the C series five years.
Proceeds from the bond sale would be used to increase the lender’s loan disbursement.
The bonds will be listed on the Indonesia Stock Exchange (IDX) on April 1.
UOB had appointed BCA Sekuritas, Indo Premier Securities, Mandiri Sekuritas, Standard Chartered Securities Indonesia and UOB Kay Hian Securities as underwriters.
UOB’s net income fell to Rp 774 billion last year, down 50 percent from Rp 1.55 trillion in 2013, according to the lender’s unaudited financial report published at Financial Services Authorities (OJK).
Bank loans rose 8 percent to Rp 56.52 trillion in 2014 from a year earlier. UOB raised Rp 63.31 trillion in total third-party funds (DPK), up 10 percent from 2013.