PT BPD Jawa Barat and Banten Tbk (BJBR) plans to issue continuous subordinated bonds III phase I in 2021 with a maximum of Rp1 trillion.

The company brief prospectus published on Friday (11/6) explained that the continuous subordinated bonds III phase I is part of the larger bond sale program with target funds raised to Rp2 trillion.

In the first stage, the company offers subordinated bonds in two series, series A with a 5-year tenor and series B with a 7-year tenor.

To issue this subordinated bond, the company has obtained a rating from PT Pefindo, namely 'A.'

The underwriters are entrusted to CIMB Niaga Sekuritas, Indo Premier Sekuritas, Mandiri Sekuritas, Trimegah Sekuritas Indonesi. Meanwhile, the trustee is BTN (Persero) Tbk.

The company plans to use the proceeds from the issuance of this subordinated bond to strengthen its capital structure by considering it as complementary capital (tier 2) in the context of credi