JAKARTA. PT Bussan Auto Finance (BAF), a financing venture under Mitsui and Yamaha Motor, is arranging the issuance of Shelf-Registration Bonds II Year 2022 with a principal value of IDR 1.2 trillion.
Said bonds are included in the public offering program of Shelf-Registration Bonds of BAF, which aims to raise IDR 3 trillion of fresh funds in total. Previously, BAF had issued its first set of bonds worth IDR 100 billion.
For this second phase, BAF will offer two series of bonds with a principal value of IDR 655 billion for series A and IDR 545 billion for series B. The coupon that will be attached to series A is 5.98% per annum, whereas series B’s coupon is set to 7.75% per annum.
The public offering of these bonds is scheduled to take place from November 28-29, 2022. Then, the electronic distribution will follow on December 2, 2022, before finally being recorded on Indonesia Stock Exchange (IDX) on December 5, 2022.
For the record, the bonds offered by BAF had been granted an “AAA(idn)” rank from Fitch Ratings Indonesia and an “idAAA” from Pemeringkat Efek Indonesia, a local rating agency. Then, BAF plans to allocate the entire proceeds of this bonds issuance to its financing capital.
In this second round of bonds issuance, BAF appoints PT Indo Premier Sekuritas as the underwriter and PT Bank Mandiri (Persero) Tbk (BMRI) as the trustee. (KR/ZH)