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Bussan Auto Finance to offer IDR 1.22 trillion bonds

13 April 2021 06:04

JAKARTA - PT Bussan Auto Finance (BAFI) will offer Shelf Registration Bonds I Phase II 2021 amounting to IDR 1.22 trillion on April 21-22, 2021. The proceeds from the issuance of these bonds will be used to strengthen the financing business.

In a brief prospectus quoted on Tuesday (13/4), the bonds are issued in two series, namely, Series A is offered at IDR 500 billion with a fixed interest rate of 4.9% per year for a period of 370 days and Series B is offered at IDR 725 billion. interest of 6.9% per annum for three years.

As of December 2020, BAFI recorded net financing receivables of IDR 10.81 trillion, lower than the 2019 period of IDR 11.62 trillion, derivative receivables of IDR 2.12 billion, down from IDR 11.62 billion, and other receivables of IDR 80.38 billion, up from IDR 73.74 billion.

Regarding this corporate action, PT Fitch Ratings Indonesia (Fitch) gave an AAA (idn) rating (Triple A). BAFI has appointed PT Indo Premier Sekuritas as the underwriter for the bond issuance and PT Bank Mandiri (Persero) Tbk (BMRI) has been appointed as the bonds trustee. (LK/LM)

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