JAKARTA (TheInsiderStories) — Amid the uncertainty of Indonesia’s election and global economic turmoil, capital market is still a preferred choice to get source of funding. An auto financing company, PT Oto Multiartha will issue Rp1 trillion (US$71 million) bond this year.
The bond will be issued in 3 series, said Indonesia Central Security Depository announcement. Series A valued Rp200 billion with 7.75 percent fixed interest rate and 370 days maturity. Meanwhile, series B worth Rp320 billion with 8.75 percent coupon. It has 3 years and due April 26, 2020.
The least, series C has the biggest amount, coupon, and maturity. It valued Rp480 billion with 9.25 percent coupon. The maturity is 5 years, and will due in 2024.
Oto Multiartha will start the bond offering date on April 22-23. Then the allotment date will be on April 24, while distribution is going to be two days after. The bond’s scheduled to be listed on April 29. The initial interest will be paid on July 26.
There are four guarantors for the bond issuance. Those are PT BCA Sekuritas, PT Indo Premier Sekuritas, PT Mandiri Sekuritas, and PT Nikko Sekuritas Indonesia.
According to company’s report, Oto Multiartha has Rp23.5 trillion assets in 2017. Its equity was Rp5.22 trillion. Meanwhile, the net profit in 2017 recorded at Rp272.77 billion.
The company is a subsidiary of several financial companies. Oto Multiartha shares is owned by PT Summit Auto Group, and Sumitomo Mitsui Banking Corporation, and PT Sinar Mas Multiartha Tbk (IDX: SMMA).
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