JAKARTA. PT Federal International Finance (FIF) is aiming for IDR 3 trillion in fresh funds through the issuance of bonds, a financing services company owned by the Astra Group, will issue a bond principal amount of IDR 3 trillion.

The debt securities have been registered in the collective custody of the Indonesian Central Securities Depository (KSEI), under the name FIF Shelf Registration Bonds V with Fixed Interest Rate Phase V of 2023. These bonds are part of FIF's Shelf Registration Public Offering (PUB) program, which targets raising funds up to IDR 10 trillion.

According to an official statement received by idnfinancials.com, the bonds will be offered in 2 series. Series A bonds are offered with a principal amount of IDR 1.04 trillion, with a coupon of 6% per year and a tenor of 370 calendar days. Meanwhile, Series B bonds are offered with a principal amount of IDR 1.96 trillion, with a coupon of 6.80% per year and a tenor of 36 months.

All proceeds from the issuance of FIF's bonds will be used for working capital, especially consumer financing for motor vehicles.

The bond public offering period is scheduled for 20-21 February 2023. Electronic bond distribution will be held on 24 February 2023 and listed on the Indonesia Stock Exchange (IDX) on 27 February 2023.

A number of parties were appointed as underwriters for the FIF bonds, namely PT BCA Sekuritas, PT CIMB Niaga Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM). The trustee for the issuance of these bonds is PT Bank Rakyat Indonesia (Persero) Tbk (BBRI). (KR/LM)