JAKARTA -PT Indomobil Finance Indonesia will issue bonds worth Rp750 billion in the second quarter of this year, following emissions of Rp1.08 trillion in the first quarter of this year.
Based on information from PT Indo premier Sekuritas as one of the underwriters of this bond issuance, Monday (16/4/2018), the bond is part of a sustainable public offering since last year.
Bonds to be issued by a subsidiary of PT Indomobil Multi Jasa Tbk. (IMJS) has the name of Indomobil Finance III Phase III Bond in 2018.
These bonds will be issued in three series, namely Series A tenor 370 days, Series B tenor 36 months, and Series C tenor 60 months. The initial offer period or bookbuilding is ongoing and will end on Tuesday (24/4/2018) next week.
This bond has idA rating from Pefindo. Based on the condition of the secondary market yield, the range of coupons offered by the company based on the rating is Series A of 6.25% – 6.75%, Series B of 7.50% – 8.35%, and Series C of 7.75% – 8.60%.
The bonds are issued at the offering price of 100% of the nominal value of the bonds and pledged 50% of the total issuance of receivables. The plan, the funds obtained from the issuance of these bonds will be used for working capital financing.
After the bookbuilding period ends, the public offering period will be on May 11-14, 2018 and thereafter continued with allotment, investor payment, bond distribution and consecutive listing on 15-18 May 2018. This schedule is still tentative.
Indo Premier Securities records a number of considerations for the investment feasibility of this instrument.
First, the bonds are supported by experienced shareholders in the automotive field as well as reliable and experienced management in their fields. The Company is supported by strong synergy with Indomobil Group to work on captive market
Second, diversification of funding sources supported by banking institutions and non-bank financial institutions, both nationally and internationally
Third, the financing industry is still wide open for growth with the enactment of POJK No. 29 of 2014 regarding the expansion of business scope of finance companies.
Fourth, solid and growing financial performance.
Fifth, track record of good bond payment and supported by good credit rating that is idA from Pefindo.
Sixth, the breadth of service network is supported by integrated information system and technology infrastructure to simplify credit processing process
Meanwhile, when holding the previous phase of PUB offering, namely Indomobil Finance Bond III Phase II Year 2018, the company poured demand reached Rp1, 3 trillion. In fact, the target is only Rp750 publisher milir. As a result, the company raised its issuance to Rp1.08 trillion.