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BOGA to issue MTN of IDR 200 billion

28 September 2021 09:50

JAKARTA – PT Bintang Oto Global Tbk (BOGA) would release Medium Term Notes (MTN) I Year 2021 of IDR 200 billion, maturing on September 29, 2026. These notes would be offered with a five-year tenor and an annual fixed interest rate of 10%.

Quoting the prospectus published earlier today (28/9), Arif Andi Wihatmanto, President Director of Bintang Oto Global, announced that the proceeds from the MTN issuance would be channelled to its subsidiaries. Then, 30.30% of the funds would be spent on purchasing commercial vehicles, 40.40% to acquire a lot for the fleet pool, 10.10% to build supporting facilities, and 19.20% to enhance its working capital.

The vehicles mentioned above would then be leased. Currently, the company has secured a leasing contract of 6,466 units of commercial vehicles.

PT Kredit Rating Indonesia had granted an “idBBB+ (triple B plus)” rating to BOGA regarding the notes issuance. The appointed monitoring agent, payment agent, and arranger in this corporate action are PT BPD Bank Jabar Banten Tbk (BJBR), PT Kustodian Sentral Efek Indonesia, and PT Shinhan Sekuritas Indonesia. (LK/ZH)

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