JAKARTA. The financing company, PT Toyota Astra Financial Service (TAF), will issue Bonds worth IDR 1.5 trillion with a fixed interest rate. The proceeds of the bond issuance will be used to fund the working capital.
The upcoming Bonds Phase II Year 2022 is a part of the Public Offering of Shelf-Registered Bonds III, targeting IDR 5 trillion in total. After deducting the emission fees, the company will utilise the money to strengthen the working capital to finance motor vehicles.
The bonds will be offered in two series. Series A will be offered for IDR 480.10 billion with an interest rate of 3.60% and a 370-days tenor. Then, Series B bonds will be worth IDR 1.02 trillion, equipped with an interest rate of 5.7% and a tenor of three years.
The first interest payment of each bond series will be made on May 23, 2022. Meanwhile, the last interest payment, which is also the maturity date, will take place on March 3, 2023, for Series A, and February 23, 2025, for Series B. These dates are also the deadline for the last payment of bonds’ face values.
PT Fitch Ratings Indonesia (Fitch), a rating agency, has granted an “AAAidn (Triple A)” for the sad bonds. The company has assigned PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk as the underwriters. Meanwhile, the acting trustee is PT Bank Rakyat Indonesia (Persero) Tbk.
The effective date from OJK was May 11, 2020. However, the public offering period will be on February 17-18, 2022, followed by the allotment date on February 21, 2022. Then, the order payment refund will take place on February 23, 2022. The electronic distribution itself will be on the same day, on February 23, 2022, while the listing in Indonesia Stock Exchange (IDX) will follow the next day on February 24, 2022. (AM/ZH)