Mar 28, 2011

FIF launches Rp2 trio bonds

PT Federal International Finance (FIF), a wholly owned leasing company of PT Astra International Tbk (ASII), is keen to raise Rp2 trillion of rupiah denominated bonds scheduled on April 28 2011.
In an official bonds prospectus published today, FIF will use the bonds proceed as working capital, especially to support motorbike leasing.
Six lead underwriters, PT Kresna Graha Sekurindo Tbk, PT Indo Premier Securities, PT Mandiri Sekuritas, PT Danareksa Sekuritas, PT HSBC Securuties Indonesia, and PT NISP Sekuritas are arranging the bonds issuance.
According to the prospectus, the bonds are consisting of three series, A, B, and C. A Series will mature in 370 days, B series will due in 24 months, and 36 months for C series.
FIF posted Rp4.74 trillion revenue and Rp1.17 trillion net income or Rp4,192 per share. Astra International controls 99.99% shareholding in FIF and PT Arya Kharisma owns the remaining stake.

Disclosure: No position at the stock mentioned above. 

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