Raising funds, Kredit Plus to issue IDR 500 billion bond
JAKARTA - PT KB Finansia Multi Finance, the managing company of Kredit Plus, is offering Shelf-Registration Bond I Phase I Year 2024 of IDR 500 billion starting from yesterday (21/11) until next week (3/2).
The proceeds of this bond issuance will be allocated to expand financing capacity for its users.
In the short prospectus quoted Friday (22/11), the bond is said to be offered in series A and B, with maximum period set to 3 years. As mentioned above, the proceeds of this bond issuance will be allocated to consumer financing.
Throughout the first half (H1) of 2024, Kredit Plus reported revenue shifting down to IDR 1.03 trillion from IDR 1.19 trillion seen in H1 2023.
This decline resulted from significant decrease in financing receivables to IDR 967.58 billion from IDR 1.14 trillion. Finance leasing segment, however, increased to IDR 31.90 billion from IDR 19.22 billion, as did other segments to IDR 37.45 billion from IDR 27.47 billion.
As of June 2024, Kredit Plus reported total assets of IDR 8.76 trillion, higher than IDR 8.62 trillion recorded in December 2023. However, financing receivables slipped to IDR 7.34 trillion from IDR 7.43 trillion.
Kredit Plus has acquired a Triple A (AAAidn) rating from PT Fitch Ratings Indonesia. Meanwhile, the assigned lead underwriters are PT Trimegah Sekuritas Indonesia Tbk (TRIM) and PT KB Valbury Sekuritas. (LK/ZH)