JAKARTA. PT Batavia Prosperindo Financial Tbk (BPFI) targets to obtain Rp 200 billion through the issuance of its Shelf Registration Bonds II Phase II/2020. The funds will be used to pay maturing debt and as working capital.
In its disclosure of information, BPFI management explained that the bonds have a fixed interest rate of 9.70% per year and a tenor of 370 days. The Indonesian Securities Rating Agency (Pefindo) gave ‘idBBB’ rating for this bond.
BPFI's management also said that Rp 175 billion of the funds obtained from the bond issuance will be used to pay off its debts that will mature on 5 May 2020. The remaining Rp 25 billion will be used as the company's working capital.
BPFI appointed PT Sucor Sekuritas as the underwriter and PT Bank Mega Tbk (MEGA) as the trustee. (KR/AR)