Monday, May 31, 2010

Oto Multiartha pricing bonds

PT Oto Multiartha, the Indonesian auto-financing unit of Sumitomo Corp., plans to sell IDR1.3 trillion of bonds in June. Oto Multiartha will pay a 7.9 percent coupon on IDR300 billion of one-year bonds and 8.7 percent on 225 billion rupiah of two-year notes.
It will also pay 10.05 percent on IDR575 billion of three-year bonds and 10.65 percent on IDR200 billion rupiah of four-year notes.
The bond consists of four series, namely series A (370 days), series B (will mature in 24 months), series C (36 months), and series D (48 months).
Coupon for series A will refer to the coupon of T-bond series FR0016 plus 110 basis points (bp)-160 bp or around 8.05%-8.45%, for series B will refer to T-bond series FR0018 plus 110 bp-160 bp (8.4-8.9%), for series C will refer to T-bond series FR0019 plus 125 bp-250 bp (8.95%-10.2%), and for series D will refer to T-bond FR0051 series plus 150 bp-250 bp (9.62-10.62%).
The bonds will be offered from June 1 through June 3 before listing on the Indonesian Stock Exchange on June 9.
PT DBS Vickers Securities Indonesia, PT HSBC Securities Indonesia and PT Standard Chartered Securities Indonesia are arranging the sale.
Oto Multiartha, is seeking IDR5 trillion external financing to meet the IDR10.5 trillion booking target this year.

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