JAKARTA. PT Bussan Auto Finance (BAF), a financing venture under Mitsui & Co Ltd and Yamaha Motor, will issue Shelf-Registration Bonds II of BAF Phase III Year 2023 with a total principal of IDR 1.24 trillion.

The bonds are included as a part of the public offering program of Shelf-Registration Bonds II of BAF with a total target of IDR 3 trillion. Prior to this, BAF had issued Bonds Phase I with a principal of IDR 100 billion and Phase II Bonds of IDR 1.2 trillion.

In this upcoming issuance of Bonds Phase III, BAF will offer bonds in two series. Series A will be offered for IDR 401 billion with an annual interest rate of 5.8% and a tenor of 370 days. Meanwhile, series B will be offered for IDR 841 billion, equipped with a fixed interest rate of 7.10% per annum and a three-years tenor.

BAF has assigned PT Indo Premier Sekuritas as the lead underwriter as well as the underwriter. PT Bank Mandiri (Persero) Tbk (BMRI) will then step in as the trustee.

The bonds issued by BAF have received an “AAA(idn)” from Fitch Ratings Indonesia and an “idAAA” from Pemeringkat Efek Indonesia (Pefindo), a local rating agency. The public offering for these bonds is scheduled to take place on April 13, 2023, followed by the public listing on IDX on April 26, 2023. (KR/ZH)