Wednesday, 10/02/2010 14:13:41 WIB
by Irvin Avriano A.
for Bisnis Indonesia
BCA Finance offers bond's coupon at level 8.4% -11%
JAKARTA: PT BCA Finance offers bonds III/2010 coupon and subordinated bond I/2010 totaling Rp600 billion level in the range 8.4% -11%.
BCA Finance President Director Roni Haslim said premium offered to investors ranging from 110 basis points (bps) --250 bps. Calculation of 100 bps is equal to 1%. Premium is the spread between the offered coupon corporate bonds with yields of government bond securities (SUN) in the secondary market.
"We will use these bond funds as part of a new financing plan this year that have been targeted to IDR13. 5 billion from Rp11, 42 billion last year," he told the press today.
The bonds earn idAA- ratings from of PT Pemeringkat Efek Indonesia (Pefindo) and AA ratings from PT Fitch Ratings Indonesia, while BCA Finance's subordinated bonds were ratings idA+ and AA-.
The debt is divided into five tranches of A series maturing in 2011 with a premium 110 bps--160 bps of yield FR0016, B series which will mature in 2012 to offer premium 110 bps--160 bps of yield FR0017, and C series with premium 125 bps--250 bps of yield FR0033.
D Series offers premium 135 bps--250 bps from the yield of FR0049 maturing in 2013, E series bonds will mature in 2014 by offering premium 150 bps--250 bps of yield FR0051.
Subordinated bonds company offers premium 150 bps--250 bps of yield of FR0027 maturing in 2015.
The underwriter for the bonds is PT Kresna Graha Sekurindo Tbk, PT DBS Vickers Securities Indonesia, and PT OSK Nusadana Securities Indonesia.
BCA FInance was also assisted by PT Bank Mega Tbk as a trustee. Roni explains the company is optimistic with the performance this year by setting an increased target of a net profit of Rp430 billion this year compared to Rp387 billion at the end of last year.