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Tuesday, December 29, 2009

SMS Finance set their bond's coupon at 11.5% -- 13.35%

will be publish in Bisnis Indonesia daily newspaper earlier in this morning

Irvin Avriano (21)
Bisnis Indonesia

SMS Finance set their bond's coupon at 11.5% -- 13.35%

JAKARTA: PT Sinar Mitra Sepadan Finance (SMS Finance) set the company I/2009 coupon bonds for its corporate bonds in 11.5% -- 13.35% tenured 1 year - 3 years.

"Our bonds will be recorded in the stock at the beginning of next year, although we have at the end of the process this year," said President Director SMS Finance Rudyanto Somawihardjo when contacted by Bisnis yesterday.

Based on the information collected earlier, the debt was planned to be listed on January 11, 2010 in Indonesia Stock Exchange (IDX/Bursa Efek Indonesia).

The bonds whom get BBB+ ratings from Fitch Ratings with stable outlook is divided into three series. The A series coupons amounting to Rp85 billion and tenured a year set at 11.5%, B series worth Rp5 billion and tenured 2 years set in the 13.15% level, and C series for Rp 10 billion tenured 3 years set in 13.35% level.

Rudyanto said the size of bonds which the company launched worth Rp100 billion, lower than the maximum amount of Rp200 billion. He said, the result is adjusting to the coupons demands from its investors.

According to him, the maximum amount requested by the requirement from the capital market authority when the registration statement processed. He admitted investors requested a higher coupon because there are many another company issued bond at the same time.

"We remain at a level that we set at the beginning of the process, so the number is related with the investor absorbtion."

In the bonds issuance, the company assisted PT Andalan Artha Advisindo Sekuritas (AAA Securities) as the underwriters.(21)

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