SAN Finance to sell $8.2M bonds

SAN Finance would offer bonds worth Rp 750 billion or US$8.2 million with coupon rates ranging from 7 percent and 8.75 percent.

The company will offer three series of bonds: A series with a tenure period of 370 days and a coupon rate of 7 to 8 percent; B series with a tenure period of two years and a coupon rate of 7.5 to 8.5 percent; and C series with a tenure period of three years and a coupon rate of 7.75 to 8.75 percent.

SAN Finance has appointed PT NISP Sekuritas, PT HSBC Securities Indonesia and PT Standard Chartered Securities Indonesia as underwriters, and PT Bank Rakyat Indonesia Tbk. as the trustee for the bond offers.

SAN Finance’s bond offering began on Tuesday and will last until Jan. 17. It plans to use the funds gained from the bond offering to disburse financing for credits on heavy equipment. It estimates it will obtain Rp 1 trillion from the bond offering.

SAN Finance director Andrijanto said his company aimed to book up to Rp 5.5 trillion in lending next year, increasing by about 20 percent from this year’s estimation of Rp 4.5 trillion.

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