Apr 25, 2011

TAF to launch up to Rp1.5 trio bonds

Indonesia leasing company PT Totoya Astra Financial Services (TAF), a joint venture between PT Astra International Tbk (ASII) and Japanese Toyota Financial Services Corporation, plans to issue three tranches of up to Rp1.5 trillion bonds in May or June this year.
"We have submitted the bonds documents to Bapepam-LK and expected to launch it in May or June," PT Trimegah Securities Tbk Director Karman Pamurahardjo told Insider Stories today.
Previously, Buntoro Muljono, TAF President Director, said the bonds proceed will be used by the company to support financing. 
However, he declined to provide further explanation regarding to the plan. TAF has appointed Indo Premier Securities, HSBC Securities, and Trimegah Securities as joint lead underwriters. Astra International owns 50% shareholding in TAF and the remaining is owned by Toyota Financial Services.

Disclosure: No position at the stock mentioned above.

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