May 2, 2011

Indomobil Finance to sell Rp700b bond

PT Indomobil Finance Indonesia Tbk plans to issue bonds worth at most Rp700 billion by the end of next month to support its business expansion.
“The bonds will be divided into six tenors, 1 year, 2 years, 3 years and 4 years,” Director Indomobil Finance Gunawan told Bisnis last weekend.
The company has appointed four underwriters for the issuance, namely PT CIMB Securities Indonesia, PT Indo Premier Securities, PT Nikko Securities, and PT Kresna Graha Sekurindo Tbk.
PT Pemeringkat Efek Indonesia (Pefindo), Indonesian rating agency, last weekend upgraded the company rating of Finance Indonesia to idA from idA- at stable outlook because of the its market position supported by its parent company PT Indomobil Sukses Internasional Tbk.

Disclosure: No position at the stock mentioned above.

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