Sep 23, 2010

Summit Finance to issue Rp1 trio bonds

Multifinance company PT Summit Oto Finance today launches Rp1 trillion bond issuance plan. The bonds proceed will be used as working capital to support motorbike financing. 
Based on the bonds prospectus published today, Summit Finance has mandated three lead underwriters, PT DBS Vickers Securities Indonesia, PT HSBC Securities Indonesia, and PT Standard Chartered Securities Indonesia. 
Summit Finance has picked three underwriters PT DBS Vickers Securities Indonesia, PT HSBC Securities Indonesia, and PT Standard Chartered Securities Indonesia. 
 The bonds, consisting of four series A, B, C and D, are scheduled to be listed at Indonesia Stock Exchange on October 29 2010. A Series bond will mature in 370 days, B series in 2 years, C seris in 3 years, and D series in 4 years. 
The company booked Rp1.16 trillion revenue as of May 2010 and Rp301.66 billion net profit. 

Disclosure: No position at the stock mentioned above.

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