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Paying debts, Mandala Multifinance to issue bonds of IDR 650 billion

15 November 2021 20:19

JAKARTA. The consumer financing company, PT Mandala Multifinance Tbk (MFIN), would offer bonds with a face value of IDR 650 billion, whose proceeds would be spent on paying back maturing notes.

The management of MFIN mentioned that these bonds to be released are the fourth phase (Phase IV) of the entire Public Offering of Shelf-Registration Bond IV of MFIN. It targets to raise IDR 1.5 trillion in total.

The Bond Phase IV would be offered in two series. They are Series A of IDR 300 billion and Series B of IDR 350 billion. The interest rate following Series A is 8.35% per year and Series B of 9.25% per year.

Later, MFIN would allocate IDR 300 billion of the total proceeds of this bond issuance to pay back the principal value of previous bonds, maturing on December 14, 2021. “The rest of it would be placed into the working capital,” the management further revealed in the information disclosure in Indonesia Stock Exchange (IDX) today (15/11).

The public offering period for this Bond Phase IV of MFIN would take place on November 25, 26, and 29, 2021. The electronic distribution is scheduled for December 3, 2021, while the recording will follow on December 6, 2021.

For the record, MFIN’s Bond Phase IV had been granted an “idA (single A)” from Pemeringkat Efek Indonesia or Pefindo, the local rating agency. MFIN has also appointed PT Sucor Sekuritas as the underwriter, while PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) would act as the trustee. (KR/ZH)

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