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View all search resultsTAF offers Rp 1.2 trillion in debt papers
Finance company PT Toyota Astra Financial Services (TAF) plans to raise Rp 1
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F
inance company PT Toyota Astra Financial Services (TAF) plans to raise Rp 1.2 trillion (US$123.83 million) from a bond sale in May.
According to the firm’s announcement, which was issued on Wednesday, the bonds will be divided into four series. The A series will mature in 370 days, the B series in two years, the C series in three years, and the D series in four years. The company has not determined the interest rates to be offered on the bonds, which have obtained an AAA rating from PT Fitch Ratings Indonesia.
“The funds raised from the offering — in net after paying the issuance fee — will be used as working capital for vehicle financing,” the company said in the announcement.
The company has appointed four underwriters, namely PT HSBC Securities Indonesia, PT Indo Premier Securities, PT Mandiri Sekuritas and PT Trimegah Securities, to manage the issuance.
The book building period will begin on April 16 and run through April 30, while the offer period will take place on May 13-14, and the bonds will be listed on the Indonesia Stock Exchange (IDX) on May 20.
