Sep 29, 2010

Adira Finance to issue Rp1.5 trio bonds

Publicly listed multifinance company PT Adira Dinamika Multi Finance Tbk today unveils up to Rp1.5 trillion bonds issuance scheduled on November 1 2010.
Based on the bonds prospectus published today, Adira Finance has picked three lead bonds underwriters PT Danareksa Sekuritas, PT HSBC Securities, and PT Indo Premier Securities with full commitment underwriting.
Adira Finance will sell A, B, C, and D series of fixed coupon bonds. A Series is set to mature in the next 18 months, B series will due in 24 months, 30 months and 36 months maturities for C and D series respectively.
According to the plan, the company will utilize the bonds proceed to support financing on motorbike.
The proposed bonds has rated idAA by stellar rating agency PT Pemeringkat Efek Indonesia.
Disclosure: No position at the stock mentioned above.

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