JAKARTA. PT Mandiri Tunas Finance (MTF), a subsidiary of PT Bank Mandiri (Persero) Tbk (BMRI) which operates in the financing sector, issued Shelf Registration Bonds VI Phase III 2024, with a principal amount of IDR 1.16 trillion.

In the released prospectus, the bonds are offered in 2 series. A total of IDR 81.59 billion was issued through Series A bonds and IDR 1.08 trillion for Series B. The coupon offered for each series was 7% and 7.25% per year, while the tenor for each series was 3 years and 5 years from the date of issuance.

For the record, these bonds are part of the MTF Shelf Registration Bonds VI Public Offering program, with a target of raising IDR 5 trillion. Previously, MTF had issued Phase I bonds amounting to IDR 691.74 billion and Phase II IDR 1.13 trillion.

MTF will use all proceeds from the Phase III Bond issuance for working capital for motor vehicle financing. "As determined by the company's permits, based on applicable provisions and legislation," wrote MTF Management, in its official statement.

The implementing underwriters and underwriters for the bonds issued by MTF are PT BRI Danareksa Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM). Meanwhile, the appointed trustee is PT Bank Rakyat Indonesia (Persero) Tbk (BBRI).

The public offering period for MTF Phase III Bonds will take place on May 20-21 2024. Electronic bond distribution is scheduled for May 28 2024 and listing on the stock exchange on May 29 2024. (KR/LM)