JAKARTA. PT Bussan Auto Finance (BAF), a Japanese financing venture, will offer its Shelf-Registration Bonds II Phase I Year 2022 with a principal of IDR 100 billion.
The bonds will be issued in two series, A and B. Approximately IDR 88.5 billion worth of bonds will be offered through series A, complete with a fixed annual interest rate of 4.10% and a 370-days tenor. Meanwhile, series B is worth IDR 11.5 billion and will be offered along with a fixed interest rate of 7% per annum and a tenor of three years.
For the recod, both series of bonds are a part of a much more extensive public offering program of Shelf-Registration Bonds of BAF, aiming to collect IDR 3 trillion in total. “The issuance of the Shelf-Registration Bonds II Phase II and other upcoming phases (if such thing is possible) will be discussed later,” the management stated in the official release.
The public offering period of BAF’s bonds has taken place from June 28 to 30, 2022, followed by the electronic distribution on July 5, 2022. Lastly, they will all be listed on Indonesia Stock Exchange (IDX) on July 6, 2022.
BAF has been granted an “AAA(idn)” rating from Fitch Ratings Indonesia in regard to this bonds issuance. The management plans to utilise the proceeds to improve the consumer financing working capital. (KR/ZH)