May 30, 2011

Serasi Autoraya unveils Rp800 bio bonds

Integrated transportation solution provider PT Serasi Autoraya today announced a Rp800 billion bonds issuance scheduled on July 6 2011.
The proceed will be used by Serasi to buy 4,000 units of multi purpose, pick up vehicle, truck or bus. The vehicles will be bought from its affiliated firm PT Astra International Tbk.
The bonds, consisting of four tranches with maturities ranging from 370 days to 4 years, are secured with Serasi's all assets and obtaining idA+ rating with stable outlook from PT Pemeringkat Efek Indonesia.
Four lead underwriters namely PT Victoria Sekuritas, PT OSK Nusadana Securities Indonesia, PT Mandiri Sekuritas, and PT Indo Premier Securities have been mandated by Serasi Autoraya.
In 2010, Serasi recorded a 25.16% increase in operating revenue last year to Rp3.53 trillion from Rp2.82 trillion in the previous year.
Operating profit increased 24.09% to Rp549.78 billion from Rp443.03 billion. Net profit grew 32.10% to Rp237.11 billion from Rp179.49 billion. 

Disclosure: No position at the stock mentioned above.  

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