KUALA LUMPUR: PT Bank CIMB Niaga Tbk has completed the issuance of 1.6 trillion rupiah (RM552.3 million) subordinated debt and listed them on the Indonesian Stock Exchange (IDX) on Monday, Dec 27.
The sub debt, rated AA by Fitch Indonesia with a bullet maturity of 10 years, marks the longest tenure public sub debt issued in Indonesia to date, said CIMB Group Holdings Bhd, which owns 96.91%'' of CIMB Niaga.
PT CIMB Securities Indonesia was the sole lead underwriter and bookrunner for the transaction.
CIMB Group said this sub debt marked the second rupiah sub debt issuance by CIMB Niaga in 2010. The first 1.38 trillion rupiah (RM476.3 million) seven-year sub debt was issued in July 2010.
'The success of the transaction is anchored by a good spread of order book from different categories of investors both onshore and offshore, with approximately 55% orders coming from institutional investors, 25% corporate, and 20% retail, with the strong support and confidence of the customers of CIMB Niaga playing a significant role in building the book,' it said.
CIMB Group said another important breakthrough was the increased cross border interest that accounted for 16% of the total order book coming from both institutional and retail investors.
CIMB Niaga deputy chief executive officer Catherine Hadiman said the successful distribution of the sub debt to a wide investor base, both onshore and offshore, 'is a testimony to the effective integration, collaboration and synergies between all distribution channels and business units within CIMB Niaga and CIMB Group'.
The sub debt, rated AA by Fitch Indonesia with a bullet maturity of 10 years, marks the longest tenure public sub debt issued in Indonesia to date, said CIMB Group Holdings Bhd, which owns 96.91%'' of CIMB Niaga.
PT CIMB Securities Indonesia was the sole lead underwriter and bookrunner for the transaction.
CIMB Group said this sub debt marked the second rupiah sub debt issuance by CIMB Niaga in 2010. The first 1.38 trillion rupiah (RM476.3 million) seven-year sub debt was issued in July 2010.
'The success of the transaction is anchored by a good spread of order book from different categories of investors both onshore and offshore, with approximately 55% orders coming from institutional investors, 25% corporate, and 20% retail, with the strong support and confidence of the customers of CIMB Niaga playing a significant role in building the book,' it said.
CIMB Group said another important breakthrough was the increased cross border interest that accounted for 16% of the total order book coming from both institutional and retail investors.
CIMB Niaga deputy chief executive officer Catherine Hadiman said the successful distribution of the sub debt to a wide investor base, both onshore and offshore, 'is a testimony to the effective integration, collaboration and synergies between all distribution channels and business units within CIMB Niaga and CIMB Group'.
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