JAKARTA: PT Mandiri Tunas Finance, Indonesias leading financing company, adds the number of underwriters for its sixth bond issuance of maximum IDR600 billion, to three companies.Initially, PT Mandiri Sekuritas serves as the lead underwriter yet, there are two new additional underwriters, PT Nusantara Capital Securities and PT OSK Nusadana Securities Indonesia.Mandiri Finances management offers the coupon for such bond issuance at 8.60%-10.70%, the company said, as quoted from the additional prospectus of the wholly owned subsidiary of PT Bank Mandiri Tbk being published yesterday.PT Kustodian Sentral Efek Indonesia noted that the bond consists of four series, including series A with 370 days in tenure, valuing IDR48 billion, employing 8.60% coupon. This particular series shall mature on 23 May 2012.For the B series bonds, it matures on 19 May 2013 with 2 years tenor, worth IDR52 billion with 9.60% coupon. The C series bonds mature on 19 May 2014, valuing IDR350 billion and giving 10.00% coupon rate. The last, D series bonds give 10.70% coupon with 4 years in tenure and IDR150 billion in value.
All the proceeds from such corporate action will be used to foster the working capital of automotive financing. PT Pemeringkat Efek (Pefindo) Indonesia grants single A+ rating for this bond with stable outlook.The offering period lasts from 18-28 April 2011, while the rights issue is 10-13 May 2011. The allotment period is on 16 May, electronic distribution is on 19 May and the listing is on 20 May 2011. (T02/NOM
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