Aug 23, 2010

ACC to launch Rp1.5 trillion bonds

PT Astra Credit Company (ACC), PT Astra International Tbk’s subsidiary, plans to unveil bonds at a minimum size of Rp1.5 trillion by the end of the first half next year merely to strengthen its financing.
The company attempts to increase its financing and maintain its compounded annual growth rate (CAGR) within the range of 20%-25% every year.
ACC Finance Director Hugeng Gozali said the amount of the 2011’s bond issuance possibly will be the same as this year’s bond issuance in order to complete the annual external financing.
“The size will be the same as last year’s, Rp1.5 trillion. Around 40% of our financing need was derived from the external resource. Majority of our financing are generated from collecting,” he said as reported by Bisnis.com.
However, Hugeng declined to explain next year’s financing target. The company is eyeing Rp8.5 trillion financing this year.
 
Disclosure: No position at the stock mentioned above. 

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