Jan 18, 2011

San Finance doubles bonds to Rp600 bio

PT Surya Artha Nusantara Finance (San Finance), affiliated of Astra financial services, has doubled its bonds issuance to Rp600 billion from the initial size of IDR300 billion.
In the bonds prospectus published today, San Finance has determined A series bond, maturing in 370 days, with an annual interest rate of 7.70%.
B series bond due in 24 months will charge 8.90% annual interest rate and C series bond maturing in 36 months will provide 9.30%.
The Rp600 billion bonds I is scheduled to list at Indonesia Stock Exchange on January 26 2010. The proceed will be used by the company to fulfill working capital requirement.
Referring to the bonds prospectus published today, San Finance's bonds comprise three different series, A, B, and C. A series mature in 370 days since the issuance, B series mature in 2 year and the remaining will due in 3 years.
PT NISP Sekuritas is the lead underwriter of SanFinance, helped by two underwriters PT Indo Premier Securities and PT OSK Nusadana Securities Indonesia.
PT Sedaya Multi Investama is 60% holder of San Finance, Marubeni Corporate holds 35%, and PT Marubeni Indonesia owns 5% stake.

Disclosure: No position at the stock mentioned above.  

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