Sarana Multigriya to issue IDR1.2 trillion bond

JAKARTA: PT Sarana Multigriya Finansial (SMF) will issue IDR800 billion of IV/2011 bond and IDR400 billion medium term notes (MTN) at maximum.The company has appointed PT Danareksa Sekuritas as the underwriter for the bond issuance. The securities will
News Editor | 20 Desember 2010 13:37 WIB

JAKARTA: PT Sarana Multigriya Finansial (SMF) will issue IDR800 billion of IV/2011 bond and IDR400 billion medium term notes (MTN) at maximum.The company has appointed PT Danareksa Sekuritas as the underwriter for the bond issuance. The securities will mature in two and three years.Meanwhile, Corporate Secretary of PT Danareksa Sekuritas Sony Wisaksono Nugroho said the appointment for the MTN arranger is still waiting for the finalization of its issuance."We'll precede with the bond issuance and has already submitted the documents to PT Bursa Efek Indonesia. We expect to begin the offering in the first quarter of 2011," he said today.Director of SMF Sutomo said the company will use the proceeds from the MTN issuance to balance the newly granted loan provided by the company to the syariah unit of PT Bank Tabungan Negara Tbk (BTN) amounting IDR200 billion.PT Fitch Ratings Indonesia in its research today has set an expectation rating at AA level for the company's plans to issue bonds and medium term notes (MTN) that mature in 360 days."Both expectation ratings for the securities to be issued are in accordance with long-term national ratings of SMF, reflecting government support as the company's shareholder," said Primary Analyst & Associate Director Fitch Diana Widjaja. (T06/NOM)

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Editor : Muhammad Fariz Aulia

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