JAKARTA - PT Mitra Pinasthika Mustika Finance (MPMFinance), a subsidiary of PT Mitra Pinasthika Mustika Tbk (MPMX) today issued Medium Term Notes (MTN) worth Rp 300 billion in two series. MTN series A with a principal of Rp 150 billion was issued on July 12, 2019 and MTN series B as much as Rp 150 billion was officially issued today (9/8).
The MTN with 3 years tenor, was issued to meet the working capital of the company's financing and business development activities. In addition, the MTN issuance is a form of diversification of corporate funding. "It's important to diversify our funding," said Johny Kandano, CEO of MPMFinance.
For information, MPMFinance has appointed PT BNI Sekuritas as arranger. Both MTN series have been purchased by Japanese investors, Sompo Insurance Indonesia. Previously in 2016, MPMFinance had issued MTN worth Rp 300 billion which was also purchased by Sompo Insurance Indonesia.
At present, the company has a total loan of Rp 9 trillion with a total equity of Rp 1.8 trillion. As of June 30, the company's loan to equity ratio was 4.94 times. (LM)