Astra's financing wing to issue global bond in second half
The Jakarta Post
Astra International-owned motorcycle financing company PT Federal International Finance (FIF) will issue a global bond in the second half.
FIF president director Margono Tanuwijaya said in Jakarta on Tuesday that the company had received a Baa2 stable outlook rating from Moody's Investor Service and BBB- from Fitch Rating.
It would be the first global bond for the company.
"We will launch it in the second half, June at the earliest. We will decide the value later," he said during a lunch meeting.
He added the issuance of the global bond was part of the company’s efforts to diversify the source of fund. The majority if FIF financing comes from domestic bond issuance, joint financing with other financial institutions and bank loans.
"Our financing revenue was Rp 36 trillion (US$2.59 billion) last year and we aim to increased it to Rp 38 trillion. With such a huge amount, we cannot solely rely on one financing source," he said. (bbn)
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