BFI Finance seeks IDR 1.6 trillion from bonds issuance
JAKARTA. PT BFI Finance Indonesia Tbk (BFIN), a financing company since 1982, will issue Shelf-Registration Bonds V Phase IV Year 2023 with a principal of IDR 1.6 trillion.
The bonds are included in the public offering program of Shelf-Registration Bonds V of BFIN, with the targeted funds of IDR 6 trillion. Previously, the company had issued the first phase of bonds of IDR 600 billion, second phase of IDR 1 trillion, and third phase of IDR 1.1 trillion.
In this upcoming bonds’ issuance, BFIN will issue its bonds in three series. Series A will be offered for IDR 590 billion, followed by series B of IDR 385 billion and series C of IDR 625 billion.
The coupon attached to Series A of Bonds IV of BFIN is 6.10% per year, while series B is given 7% per year, and 7.15% per year for series C. The tenor will also vary, starting from 370 days for series A, 2 years for series B, and 3 years for series C.
BFIN has acquired an “AA-(idn)” from Fitch Rating Indonesia for these upcoming bonds. The public offering will take place from May 6 to 11, 2023, followed by the electronic distribution on April 14, 2023, before finally being listed on Indonesia Stock Exchange on April 17, 2023.
In the shared prospectus, BFIN managed to utilise funds gained from the issuance of bonds for the working capital, which will be further spent on investment, working capital, and multi-purpose financing. “Just as ordered by the license of the company, based on the applicable provision and law,” the management of BFIN added. (KR/ZH)