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Tuesday, February 16, 2010

Mandiri Tunas Finance issue MTN IDR350 billion

Mandiri Tunas Finance issue MTN IDR350 billion

Tuesday, 16/02/2010 19:01:29 WIB

By Irvin Avriano & Yuda Prihantoro (m14)

JAKARTA (Bisnis.com): PT Mandiri Tunas Finance issued a medium term notes (MTN) II/2010 valued at IDR350 billion yesterday.

According to data from PT Kustodian Sentral Efek Indonesia (KSEI), MTN coupon will be paid every 3 months. Initial coupon payment will be made by company on May 16th, 2010.

Mandiri Tunas Finance as publishers set maturity the debt securities until February 16th, 2012. Coded coupon itself have set at fixed type.

When confirmed, Mandiri Tunas Finance President Director Halim Gunadi confirmed the company's debt securities are issued today.

"The purpose of the issuance of debt securities is to finance our lending this year. Most of the financing from Bank Mandiri as the parent company as amuch as IDR3 trillion, but still a shortage of about IDR1.6 trillion."

He described one of the instruments he had just published the company is reducing the need for financing totaling IDR1.6 trillion, which was reduced to IDR1.3 trillion.

Halim said the company seeks options from local bank loans, MTN issuance, or issuance of bonds to cover the shortage of lending resources this year.

Previously, one of the sources in the capital markets said the company named PT OSK Nusadana Securities Indonesia as the underwriters of debt securities issuance. Halim also confirmed the information.

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