PT Bank Central Asia Tbk plans to raise 1 trillion Indonesian rupiah through the issuance of subordinated bonds, IDN Financials reported May 7, citing a prospectus from the company.

The bank will initially issue 500 billion rupiah in three tranches with tenors of seven, 10 and 12 years.

The initial offering period will run from May 15 to May 30, while the public offering period is expected to be from June 28 to July 2. The bonds are set to be listed on Indonesia's stock exchange July 6.

The bank, which has been identified as systemically important, will use funds raised from the issuance to boost its capital.

BCA Securities will be the underwriter while Bank BRI will be a trustee.

As of May 7, US$1 was equivalent to 14,010.00 Indonesian rupiah.