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Toyota Astra Financial issues IDR750 billion bonds

JAKARTA: PT Toyota Astra Financial Services, a joint venture company between PT Astra International Tbk and Toyota Financial Services Corporation, will issue bonds amounting to IDR750 billion to create stronger working capital.In a prospectus published

JAKARTA: PT Toyota Astra Financial Services, a joint venture company between PT Astra International Tbk and Toyota Financial Services Corporation, will issue bonds amounting to IDR750 billion to create stronger working capital.In a prospectus published today, the company will be offering three bond series, namely the 370-day Series A, 24-month Series B, and 36-month Series C.PT Pemeringkat Efek Indonesia, an Indonesia-based credit rating agency, has assigned idAA- rating to the bonds.The company appointed PT Trimegah Securities Tbk, PT HSBC Securities Indonesia, and PT Indo Premier Securities as its underwriters. Meanwhile, PT Bank Rakyat Indonesia will act as a trustee.The book building period will start on May 31 until June 15, 2011, whilst the offering will begin on June 27 until July 1, 2011. The allotment is scheduled on July 4, 2011 and the listing at the Jakarta Stock Exchange is targeted on July 8, 2011.The companys liabilities reached IDR7.15 billion as of December 31, 2011 and the assets was IDR 8 trillion. Toyota Astra Financial Services booked a 43.09% revenue increase to IDR989.90 billion last year from IDR691.78 a year earlier. Meanwhile, the net income almost doubled to IDR152.09 billion from IDR81.24 billion. (NOM)

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