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Monday, January 17, 2011

Mandiri Tunas Finance to issue IDR500 bio--600 bio bond

BI/bursa
Bisnis Indonesia

Mandiri Tunas Finance to issue IDR500 bio--600 bio bond


JAKARTA: PT Mandiri Tunas Finance will issue VI/2011 bond worth IDR500 billion--600 bio on this quarter.

Mandiri Tunas Finance President Director Anton Setiawan said the company already appoint PT Mandiri Sekuritas, its affiliation, to became the issuance plan underwriter.

"We have held a tender to pick the underwriter, and there are four securities company that participated in it. At last the company appoint Mandiri Sekuritas as the underwriter," said him yesterday.

He said the company still find a good tenure for the bond, but he indicated that the most of the bond maturity will be 3 years.

The company was named PT Tunas Financindo Sarana, but in 2009 51% of the company's shares acquired by PT Bank Mandiri Tbk. The company incorporated in 1989, and has transfer their rights and obligations which located under operating leases division to PT Surya Sudeco (SS), a related party, in 2005.

The rest of the shares still owned by PT Tunas Ridean Tbk. Tunas Ridean shares are coded TURI in the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia).

Mandiri Tunas Finance already issued IDR2.4 trillion of bonds since 2003 in five series. The issuance are I/2003 bond IDR500 bio, II/2004 IDR350 bio, III/2005 IDR350 bio, IV/2007 IDR600 bio, and V/2008 IDR600 bio.

The company still have outstanding obligation for their bonds worth IDR225 bio that will end next year. This year total matured bond are only IDR50 bio, while next year IDR175 bio. (Munir Haikal/IAA)

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