Bank DKI issues an initial Negotiable Certificate of Deposit (NCD) worth Rp 1.880 trillion with a tenor of up to 24 months.

This indicates a high level of investor confidence in Bank DKI as a BUMD owned by the Jakarta Provincial Government

Bank DKI's Finance Director, Sigit Prastowo said, the initial value issued exceeds 1.8 times according to the planned target or oversubscribed.

"This indicates a high level of investor confidence in Bank DKI as a BUMD owned by the Jakarta Provincial Government," he said, Tuesday (12/17).

Sigit revealed, the NCD issued is divided into Serie A amounting to Rp 660 billion with a three-month tenor and a yield of 6.20 percent due on February 11, 2020.

Then, Serie B amounted to Rp 1.03 trillion with a 12-month tenor and yield of 6.95 percent, due on November 11, 2020. Finally, Serie C is Rp 190 billion with a tenor of 24 months and the highest yield of 7.25 percent which would fall on November 11, 2021.

In the inaugural NCD issuance, Sigit explained, his party takes five securities companies as joint arranger, namely BCA Sekuritas, BNI Sekuritas, Danareksa Sekuritas, Indo Premier Sekuritas, and Trimegah Sekuritas Indonesia.

"The funds obtained from the issuance of this NCD will be used to increase productive assets and strengthen the funding structure," he closed.