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Tuesday, February 22, 2011

BCA Finance bond up to IDR1.5 trio

Irvin Avriano A.

BCA Finance bond up to IDR1.5 trio

JAKARTA: PT BCA Finance IV/2011 series bond issuance can be boosted up to IDR1.5 trillion from its initial target IDR1 trio.

The possibility showed on PT Fitch Ratings Indonesia research that published today. The publication showed the proposed bond issuance granted expected national long term rating on idAA+ level. The outlook is placed on stable level.

Fitch Primary Analyst Julina Wikana said the rating showed strong support from its parent company, PT Bank Central Asia Tbk (BCA), by their common brand, operational alignment, and provision of funding from BCA.

Fitch notes that funding support, derived from BCA's strong deposit franchise, underpins BCA Finance's ability to offer competitive lending rates. Fitch expects funding support from BCA to continue to increase in line with BCA Finance's loan expansion.

When confirmed, BCA Finance President Director Roni Haslim said the issuance plan still eyed target on IDR1 trio level.

The issuance plan also helped by three lead underwriters, namely PT Bahana Securities, PT DBS Vickers Securities Indonesia, and PT Transasia Securities.



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