PT Bank Mandiri Taspen plans to issue sustainable bonds phase II in 2021 with a principal amount of Rp2 trillion.

A brief prospectus published on Monday (1/3), the phase II of the sustainable bonds is part of the ongoing public offering of sustainable bonds I with a proceeds target of around Rp4 trillion.

The company plans to use the proceeds from this celebration to channel credit and improve its financing structure.

In phase II, the company set two series, namely A series worth Rp800 billion with a coupon of 6.50 percent and a tenor of 3 years, and series B of Rp1.2 trillion with a  7.25 percent coupon with a tenor of 5 years.

To issue these bonds, the company has obtained a rating from Fitch Ratings Indonesia, namely 'AA.'

Meanwhile, the company has picked up Mandiri Sekuritas, BCA Sekuritas, BNI Sekuritas, BRI Danareksa Sekuritas, and Trimegah Sekuritas Indonesia as the underwriters for the issuance of bonds.The trustee is Bank Permata.

The company obtained the effective date for the bond sale plan on  November 18, 2020, with the schedule: the public offering period of March 15 and 16, 2021, the allotment will be on  March 17, the distribution of bonds electronically on March 19, and listing on the IDX  March 22.