JAKARTA. PT Astra Sedaya Finance (ASF), the subsidiary of PT Astra International Tbk (ASII) that focuses on the financing business, would issue bonds with a face value of IDR 2 trillion.
The said bonds are part of the Public Offering of Shelf-Registration Bond V of ASF, targeting to collect IDR 10 trillion in total. Previously, ASF had also issued the Bonds Phase I and II worth IDR 1.5 trillion and IDR 2.5 trillion, respectively.
The bonds would be offered in Series A of IDR 540.94 billion and Series B of IDR 1.46 trillion. The bonds’ interest rates are set to 3.75% per year for Series A and 5.30% per year for Series B.
The released prospectus claimed that the proceeds from this corporate action would be utilised to strengthen ASF’s working capital for consumer financing. According to idnfinancials.com data, the consumer financing business of ASF had brought IDR 2.23 trillion to ASF’s total revenue in the first half of 2021.
These upcoming bonds had been granted an “idAAA” from Pefindo, a domestic security and company rating agency. The public offering period would take place from October 14 to 15, 2021. Meanwhile, the emission date is set to October 22, 2021, followed by the recording in Indonesia Stock Exchange on October 25, 2021.
ASF had appointed five security companies as the underwriters for this action. They are PT BCA Sekuritas, PT CIMB Niaga Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM). Meanwhile, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) had been assigned as the trustee. (KR/ZH)