Bussan Auto Finance’s 2020 Bonds realisation fell below target
JAKARTA – The realisation of the issuance of the Shelf-Registration Bonds I Phase I-V of PT Bussan Auto Finance reportedly only reached IDR 3.37 trillion, slightly below the initial target of IDR 3.5 trillion.
Sigit Sembodo, Director of Bussan Auto Finance, believed that the target fell short due to the capital market condition being less accommodating following the COVID-19 pandemic. “The unmet target from all phases of the bonds issuance was accumulated to IDR 125 billion,” he confirmed in the information disclosure quoted Tuesday (22/3).
According to Sembodo, the management finally decided to terminate the offering of the said 2020 Bonds.
BAF is known to have issued the Shelf-Registration Bonds I Phase I Year 2020 of IDR 100 billion and the Bonds Phase II Year 2020 of IDR 1.23 trillion. It had also offered the Shelf-Registration Bonds I Phase II Year 2021 of IDR 775 billion, Bonds I Phase IV Year 2021 of IDR 500 billion, and Bonds I Phase V Year 2022 of IDR 775 billion. (LK/ZH)