PT Bank Negara Indonesia (Persero) Tbk has issued tier 2 subordinated notes totaling US$500 million on March 30, 2021.

This global bond has a coupon of about 3.75% per annum and is listed on the Singapore Stock Exchange.

This global bond is the company's first issuance under the euro medium-term note program, which was set up on May 6, 2020, and renewed on March 22, 2021. Referring to this program, BNI can issue debt securities in stages with a principal amount of up to US$2 billion.

The company will use proceeds from the issuance of debt securities for financing purposes and general corporate funding.

"The formation and plan for further issuance of debt securities will have a positive impact on BNI's financial condition," said BNI Corporate Secretary Mucharom in the IDX disclosure on Wednesday (31/3).