JAKARTA (TheInsiderStories) – Secondary housing finance company, PT Sarana Multigriya Financial (SMF) issues bonds and SUKUK with total amount of Rp2.46 trillion (US$171.75 million), its reported on Thursday (07/09). This issuance is part of the SMF Sustainable Bonds with a total value of Rp19 trillion.
Currently, the state firm has issued Phase I bonds worth of Rp2 trillion and Phase II Rp2.20 trillion in 2019. This year, the lender has issued Phase III bonds amounting to Rp4 trillion.
Based on the SMF‘ prospectus, for Series A, the number of crowing offered is Rp1.68 trillion with an interest rate of 6.75 percent per year and a period of 370 since the issuance date. Then Series B has a principal value of Rp424 billion with an interest rate of 8.10 percent per year and has a tenor of five years from the issue date.
The Mudharabah SUKUK with a value of Rp346 billion is part of the ongoing issuance with a total issuance value of Rp2 trillion. Previously the company had issued IDR100 billion sharia bonds.
The SUKUK is offered by SMF with a ratio of 92.28 percent of the revenue generated with an indication of an equivalent of 6.75 percent per year. The period of Mudharabah Sukuk is 370 Calendar Days from the issue date.
The company has obtained the rating from PT Pemeringkat Efek Indonesia, namely idAAA (Triple A) and idAAA (sy) (Triple A Syariah). The underwriters for these corporate actions are PT Bahana Sekuritas, PT BNI Sekuritas, PT Danareksa Sekuritas, PT Indo Premier Sekuritas, PT RHB Sekuritas Indonesia, and PT Trimegah Sekuritas Indonesia Tbk. The trustee is PT Bank Mandiri Tbk (BMRI).
Until the first quarter of 2020, this financial institution has disbursed Rp4.14 trillion in housing loans. This state-owned company was founded on July 22, 2005 when the government was working on a company that was tasked with providing secondary financing to the housing sector.
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