JAKARTA. PT Hino Finance Indonesia (Hino Finance), a joint venture established by PT Indomobil Multi Jasa Tbk (IMJS) and Sumitomo Corporation, is issuing Bond III of Hino Finance Year 2024 with total principal of IDR 700 billion.

Said bond is offered in two series, with total principal of IDR 342.89 billion for series A and IDR 357.1 billion for series B. Series A bond is equipped with a coupon of 6.70% per annum (p.a.) and a tenor of 370 days, while series B has a coupon of 7.25% p.a. and tenor of 3 years.

The public offering of bond will last from June 28 to July 2, 2024. The distribution of the bond is then set to July 5, 2024, while the listing on Indonesia Stock Exchange follows on July 8, 2024.

In the official disclosure, the management of Hino Finance said that some of the bond issuance proceeds will be used to pay off principal of Bond II of Hino Finance Year 2023 series A. Another portion will then be allocated to working capital of the company.

For the record, Hino Finance has secured an “AAA(idn)” rating for long-term bonds from Fitch Ratings Indonesia. In this issuance, the appointed joint lead underwriters are PT Aldiracita Sekuritas Indonesia, PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, and PT Indo Premier Sekuritas. (KR/ZH)