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Friday, January 8, 2010

BFI Finance bond coupon set at 12% -- 13.25% level

Irvin Avriano A.
Bisnis Indonesia

BFI Finance bond coupon set at 12% -- 13.25% level

JAKARTA: PT BFI Finance bonds II/2010 worth IDR200 billion coupon set at the level of 12% -- 13.25%.

Financial Assessment Service Sector Bureau Chief of Capital Market Supervisory Agency and Financial Institution (Badan Pengawas Pasar Modal dan Lembaga Keuangan/Bapepam-LK) Noor Rachman said A series coupon bonds that are tenured 370 days set at the level of 12% worth Rp100 billion.

Furthermore, continued Noor Rachman, B series tenured 18 months is set at 12.75% level of Rp30 billion worth, and C series tenured 24-month set at 13.25% level worth Rp70 billion.

"The possibility of claims they can get effective today or next week, because we have almost completed the process," he said today.

He explained the company had handed over documents to obtain an effective statement about 3 days ago. In addition to assisted Danareksa Securities, the company assisted PT Bank Mega Tbk as a custodian.

In the early days of issuance, the company offers a A series worth Rp75 billion coupons in the range 11% - 12%, B series worth Rp50 billion in coupon 11.75% - 12.75%, and series C worth Rp75 billion berkupon 12.25% - 13.25%.

Previously, Director of BFI Finance Indonesia Cornellius Henry Kho adding these bonds will be used as consumer financing and financing lease. The bonds pocketed with rank A- stable outlook by Pefindo and the interest payments will be paid for every 3 months.

"We schedule a recording or a listing on the Indonesia Stock Exchange on January 8, 2010," said Cornellius.

Noor Rachman added, in addition to debt letter of BFI Finance, authority was in the process of PT BCA Finance bonds valued at Rp500 billion and subordinated bonds worth Rp100 billion and subordinated bonds Bank Pembangunan Daerah Sulawesi Utara worth Rp450 billion.

In addition, he continued, several public offering plan still processed by his bereau namely PT Pembangunan Perumahan (PP), PT Megapolitan Development, and PT Sarana Tower Nusantara.

Noor said that PP offers as much as 1.03 billion shares, Megapolitasn Development of 850 million shares, and the Tower of Facility of 112.23 million shares.



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