JAKARTA. PT Bussan Auto Finance or BAF, a motorcycle financing company under Mitsui & Co, would issue a Shelf-Registration Phase III Year 2021 with a face value of IDR 755 billion.
In an official announcement received by idnfinancials.com, Series A of the upcoming bonds would be offered for IDR 150 billion along with a fixed annual interest rate of 3.75% and a 367-days tenor. Meanwhile, Series B is worth IDR 230 billion with an annual interest rate of 5.75% per year and a three-year tenor.
“The funds raised from this public bond offering, after deducting the costs, would be entirely used by the company to support consumer financing activities,” the management lays out its plan.
The public offering period takes place from September 22 to 23, 2021, while the effective date falls on September 28, 2021. Lastly, the recording in Indonesia Stock Exchange (IDX) would follow on the next day, September 29, 2021.
BAF had appointed PT Indo Premier Sekuritas as the underwriter. Furthermore, it had also asked PT Bank Mandiri (Persero) Tbk (BMRI) to be the trustee. For the record, this bond had been granted an “AAA(idn)” rating from Fitch Ratings Indonesia.
Based on idnfinancials.com data, by the end of H1 2021, Mitsui & Co Ltd, Japan, still controls 65% of BAF’s shares. Another 17.7% is claimed by Yamaha Motor Co Ltd, while PT Sinergi Autoindo Abadi has 15% and PT Yamaha Indonesia Motor Manufacturing gains 2.3%. (KR/ZH)