The issuance of the bonds consisting of three series with a maturity of one to three years was part of strategies to diversify financing sources with attractive interest rate, Toyota Astra Financial Services President Director Buntoro Muljono said here on Tuesday.
The bonds series A due in 370 days are issued at a coupon of 7.5-8.25 percent, series B due in 24 months at a coupon of 8.25-9.25 percent and series C due in 36 months at a coupon of 9-9.75 percent.
Local rating agency PT Pemeringkat Efek Indonesia (Pefindo) has assigned an AA rating to the bonds.
Buntoro said proceeds from the issuance of the bonds would be used as working capital to expand automotive financing business. The financing sources would also come from external cash and banking loans.
The company has appointed PT Trimegah Sekuritas Tbk, PT HSBC Securities Indonesia, and PT Indopremier Securities as bond issue underwriters.
The bonds will be offered to the public on June 27-July 1 and listed at the Indonesia Stock Exchange on July 8.
Toyota Astra Financial Services is a joint venture between Toyota Financial Services Corp., Japan and PT Astra International Tbk., which focus on automotive financing (Toyota) throughout Indonesia. (*)
Editor: Kunto Wibisono
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