JAKARTA: PT BCA Finance, a unit of the largest private bank in Indonesia by market value, PT Bank Central Asia Tbk, announces today that it will issue bonds worth IDR1 trillion to strengthen working capital.In its prospectus published today, the company said the bonds to be issued in five series, namely of 370 days, 15 months, 24 months, 36 months and 48 months.BCA Finance had appointed four underwriters to handle the bonds issuance; PT Bahana Securities, PT DBS Vickers Securities Indonesia, PT Standard Chartered Securities Indonesia and PT Transasia Securities. PT Bank Mega Tbk in that case will act as a trustee.The book building will start May 18-June 3 while the offering is scheduled on June 16-June 17, 2011. Listing at Jakarta Stock Exchange is set for June 23, 2011.The companys total debt reached IDR2.04 trillion as of December 31, 2011.
BCA Finance posted a 48.7% increase in the net income last year to IDR576.84 billion, bolstered by higher revenues. The assets of the company as of December 31, 2010, jumped 55.5% to IDR3.25 trillion mainly by the increase in consumer financing receivables. (NOM)
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