ASIA: CIMB Niaga to raise IDR 1 billion fund by issuing bonds

CIMB Niaga, Indonesia’s arm of Malaysia-based bank CIMB will be raising funds by issuing bonds with the total value of IDR 1 billion (equals to USD 75,000). This fund is intended to support the bank’s credit expansion in the market. The bonds are scheduled to be listed on the Indonesia Stock Exchange (IDX) in August this year and will be available in three series - A, B, and C. The A series will have 370-days tenor, B series will have 3 years tenor and C series will be the longest with 5 years tenor. The bank’s treasury and capital markets director, John Simon said that these IDR 1 trillion bonds is the second part of the bank’s shelf registration bond to generate fund. The first one was issued in end of November last year.

According to RFi Group data, CIMB Niaga holds around 13%-14% of banked population in Indonesia and its share has been steady in the past few years.

"This fund is intended to support the bank’s credit expansion in the market. The bonds are scheduled to be listed on the Indonesia Stock Exchange (IDX) in August this year and will be available in three series - A, B, and C."
Upcoming Events
21
Oct
20
Australian Banking Innovation Summit 2020
Sydney, NSW, Australia
See all upcoming events
map4
Subscribe to receive insights delivered straight to your inbox
Latest news, unbiased expert analysis and insights across banking and finance