Feb 17, 2011

Adira Finance names 4 bond underwriters

PT Adira Dinamika Finance Tbk, subsidiary of PT Bank Danamon Tbk (BDMN), has mandated Standard Chartered Securities, DBS Vickers Securities, Mandiri Sekuritas, and Indo Premier Securities as joint lead underwriter of up to Rp3 trillion bond.
Pradip Chhadva, Bank Danamon's Treasury Director, said Adira Finance plans to issue 2-3 year bond in April this year. The company requires up to Rp5 trillion to support its consumer credit this year. Besides bond issuance, Adira will utilize bank loan facilities and structured financing. Adira expects to channel Rp20 trillion of outstanding credit last year and higher figure to Rp25 trillion. 

Disclosure: No position at the stock mentioned above.

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