JAKARTA. PT Federal International Finance (FIF), a financing company under PT Astra International Tbk (ASII), would issue its Shelf-Registration Bond V Phase II Year 2021. Its value reached IDR 1.75 trillion, with an interest rate capped at 5.30%.
The said bond would be offered in two series. Series A is valued at IDR 975.33 billion, while Series B IDR 774.67 billion. The tenor for Series A is 370 days post the emission date, while Series B’s span 36 months after the emission date.
In an official statement, the management also revealed that the proceeds from the bond issuance would be used to solidify the company’s capital structure and support its vehicle financing business. It is worth mentioning that this bond had been granted an “idAAA” from Pemeringkat Rating Indonesia or Pefindo, a domestic security and company rating agency. Additionally, Fitch Ratings Indonesia also gave this bond an “AAA(idn)” rating.
The offering period is scheduled for October 21 to 22, 2021. Then, the bonds would be electronically distributed (emission date) on October 27, 2021, while the recording in Indonesia Stock Exchange would follow on the next day, October 28, 2021.
According to idnfinancials.com, FIF’s revenue was reported to reach IDR 4.43 trillion, while its net profit amounted to IDR 948.62 billion by the end of June 2021. These numbers were visibly lower than its gain in H1 2020. However, the non-performing financing ratio in the said period arrived at 1.0, showing improvement from the same period last year of 1.5 times. (KR/ZH)