Panin to Issue Subordinated Bonds
Wednesday, 20 February, 2008 | 14:57 WIB

TEMPO Interactive, Jakarta: PT Panin Bank Tbk will issue subordinated bonds valued at Rp600 billion in April this year.

The bonds with 10 years term will be offered at an interest rate of between 11 and 11.25 percent.

Roosniati Salihin, Panin Bank's Deputy President Director, said that the proceeds from the sale of the bonds will be used for increasing productive assets and strengthening the company's financing.

In other words for longer term funding in line with the needs of medium- and long-term infrastructure and commercial customers.

In addition, some of the proceeds will be used for refinancing Panin Bank's first subordinated bond issue in 2003 amounting to Rp1.3 trillion, which will fall due this year.

Ari Astri Yunita