Astra Sedaya raised its bond issuance to IDR1,5 trillion

photograph of Djony Bunarto

BI / bursa

19/2/2010

Irvin Avriano A. & M. Tahir Saleh

for Bisnis Indonesia

Astra Sedaya raised its bond issuance to IDR1,5 trillion

JAKARTA: PT Astra Sedaya Finance increase the number of their bonds issuance from the initial target XI/2010 worth IDR1 trillion to IDR1, 5 billion due to excess demand as much as 2.5 times. The company also set a bond's coupon at the level of 8.47% - 10.9%.

Astra Sedaya President Director Djony Bunarto Tjondro said the bond coupon for tranches A tenured a year set by the company at the level of 8.47%, which is the lowest level of the company's offering when the company held a public offering to investors early this month. Coupon bond B tranches which tenured 2 years is set at 9% level.

Astra Sedaya's bonds divided into six tranches that will mature in 2011-2014. Tranches A will mature in 2011, B and C tranches will mature in 2012, D and E tranches will mature in 2013, and series F will mature in 2014. The Company will pay a coupon bonds once every 3 months to investors.

Tranches C couponed 10%, D tranches 10.4%, E tranches 10.75%, and the F tranches are given at the level of F 10.9%.

"Issuance of bonds to be used as working capital had a positive response with total demand reaching 2.5 times the original issuance of the plan of IDR1 trillion, describes the confidence of investors in the company," he said in a press release today.

Djony said the company always maintain investor confidence by making principal and interest payments in a straight time.

Bonds and Astra Sedaya pocketed idAA- ratings from PT Pemeringkat Efek Indonesia (Pefindo).

Companies assisted PT HSBC Securities Indonesia, PT CIMB Securities Indonesia, and PT Mandiri Securities as underwriters in the issuance of such bonds.

Earlier, he assume Astra Sedaya and the other Astra Credit Companies group member will booked financing can be reached IDR16 trillion at the end of the year, increase from IDR14.2 trillion at the end of 2009.

Astra Sedaya itself, he said, can deliver targeted financing (booking) for IDR13.5 billion this year, an increase of 12.5% compared with last year's booking for IDR12 trillion.