Aug 10, 2010

Summit Finance to issue Rp500 bio bond

Multifinance company PT Summit Oto Finance plans to issue its Rp500 billion bonds in fourth quarter of 2010.
Director of Corporate Assesment of PT Bursa Efek Indonesia Eddy Sugito said that Summit Oto and publicly listed PT Adira Dinamika Multifinance Tbk have submitted the contract document for preliminary listing to the authority.
"Probably, in the fourth quarter, they can have submitted the registration document for bonds issuance to Bapepam-LK as the process takes about 1-2 months," Eddy said.
The preliminary contract for securities issuance is a first mechanism before the company could submit the issuance document to the authority.
Adira also plans to publish its bonds for Rp1.5 trillion to Rp2 trillion this year and had appointed PT Danareksa Sekuritas, PT Indo Premier Securities, dan PT HSBC Securities Indonesia to be its underwriters for the debt securities issuance.

Disclosure: No position at the stock mentioned above.

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