By Marisa Wong
Los Angeles, Oct. 4 – PT Bank Rakyat Indonesia (BRI) Persero Tbk. announced it priced IDR 6 trillion of green bonds in three series: one-year bonds with a 6.1% coupon, two-year bonds with a 6.35% coupon and three-year bonds with a 6.3% coupon.
The 2023 green bonds phase II was oversubscribed 2.66 times during the book building period, reaffirming Bank Rakyat as Indonesia’s largest domestic green bonds issuer after an IDR 5 trillion issuance in 2022, according to a press release.
Proceeds from the green bonds issuance will mainly support renewable energy, energy efficiency, pollution control, eco-friendly transportation and sustainable land use projects. At least 70% of the funds will be allocated to environmentally responsible business activities, with the rest directed toward SME financing. Funding for environmentally responsible activities will also cover the refinancing of expiring green bonds in 2023.
The public offering period is expected to run from Oct. 6 to Oct. 9, with allotment expected to be on Oct. 10. The electronic bonds distribution date is slated for Oct. 12, and listing on the Indonesia Stock Exchange is anticipated to be on Oct. 13.
The microfinance company is based in Jakarta, Indonesia.
| Issuer: | PT Bank Rakyat Indonesia (BRI) Persero Tbk.
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| Amount: | IDR 6 trillion
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| Issue: | 2023 green bonds phase II
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| Tenors: | One year, two years, three years
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| Coupon: | 6.1% for one-year bonds; 6.35% for two-year bonds; 6.3% for three-year bonds
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| Announcement date: | Oct. 4
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| Public offer period: | Oct. 6-Oct. 9
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| Allotment date: | Oct. 10
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| Electronic bonds distribution: | Oct. 12
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| Listing date: | Oct. 13
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| Rating: | Pefindo: idAAA
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