PT BCA Finance, planned to offered Rupiah bond as much as Rp1.5 trillion (US$106.38 million), said the company today (10/08) - Photo by the Company

JAKARTA (TheInsiderStories) – Indonesia’ financial company, PT BCA Finance, planned to offered Rupiah bond as much as Rp1.5 trillion (US$106.38 million), said the company today (10/08). The bonds divided into three tenures with coupon rates between 6.20 – 7.80 percent.

Series A with tenor for 367 days tenor with coupon rate 6.20 – 6.80 percent. Series B with two years tenure offered with price 6.50 0 7.10 percent and Series C with long three years have a coupon rate 7.00 – 7.80 percent per annum. 

This initial offering period of the notes will last on Oct. 11, public offering will be on Oct. 28 – 31 and listing on the Indonesia Stock Exchange on Nov. 6, 2019. All proceeds from the public offering of these bonds will be used for working capital for the company’s financing business activities.

Acting as underwriters for the bond issuance are PT BCA Sekuritas, PT Danareksa Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (IDX: TRIM). The bonds obtained idAAA rating from PT Pemeringkat Efek Indonesia and AAA (idn) from PT Fitch Ratings Indonesia.

The multi-finance firm was established in 1981 under the name PT Central Sari Metropolitan Leasing Corporation. on Feb. 20, 2006, the company obtained an update on business licenses in the field of business of financial institutions.

In 2001 PT Central Sari Metropolitan Leasing changed its name to PT Central Sari Finance, followed by a change in share ownership, where PT Bank Central Asia Tbk (IDX: BBCA) became the majority shareholder, as well as a change in business focus to motor vehicle financing, especially four or more wheels.

Then as of March 28, 2005, PT Central Sari Finance has changed its name to BCA Finance. Based on the company data, the company shares are owned by Bank Central Asia by 99.6 percent and BCA Finance Limited Hong Kong by 0.4 percent.

Recently, one of the largest bank in the country joined with BCA Finance, entered into a sale and purchase agreement to buy all of PT Bank Royal Indonesia shares with valued Rp1 trillion.

“Based on the agreement, buyers (BCA and BCA Finance) will purchase 2,872,000 Bank Royal shares representing all of the capital placed and paid by the sellers in Bank Royal,” said the Corporate Secretary Jan Hendra on April 22.

The stock sellers namely PT Royalindo Investa Wijaya, Leslie Soemedi, Ibrahim Sumedi, Herman Soemedi, Nevin Soemedi, and Ko Sugiarto. Hendra said, that this transaction aims to support the Indonesian banking architecture program and develop the company’ banking business.

In this case, Bank Royal will become a new subsidiary, focus on banking services or certain segments. Bank Royal has established since 1965 in Bandung, West Java. Currently, the lender has equity Rp 100 billion, with total assets Rp904.44 billion and loans Rp544.53 million.

US$1: Rp14,100

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