The bonds will be issued in two trances, each of which will involve Rp500 billion.Jakarta (ANTARA News) - State-owned financing firm PT Permodalan Nasional Madani (PNM) plans to issue rupiah-denominated bonds of Rp1 trillion in the second semester of 2013, PNM Executive President Bambang Siswaja said.
"We are still discussing the plan to issue the bonds. The plan will later be brought to a meeting of shareholders for approval," he said at his office here on Tuesday.
The bonds will be issued in two trances, each of which will involve Rp500 billion, he said.
To issue the bonds the company will appoint a bond issue underwriter in the first quarter of 2013, he said.
"The bonds will most likely have a tenor of five years, or the same as that of the bonds issued earlier this year," he said.
He expressed hope the bonds will be issued at a coupon of less than 9 percent as the previous bonds gave a coupon of 9.1 percent.
Meanwhile, PNM Finance and Operations Director Kemas Hasani said proceeds from the issuance of the bonds will be used to finance credits for small and medium businesses and cooperatives.
"We have set ourselves the target of financing Rp4 trillion in credits for small and medium scale businesses next year, up from the forecast of Rp3.1 trillion for this year," he said.
He said the company`s micro financing has so far been realized through micro capital service business units (ULAMM).
"To date we have 112,000 ULAMM units. The number is expected to increase by 100 units in 2013," he said. (*)
Editor: Heru Purwanto
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