Thursday, September 23, 2010

Summit Oto issuance IDR1 trilion bond

PT Summit Oto Finance, multifinance company, plans to issues IDR1 trillion bond. The bonds proceed will be used as working capital to support motorbike financing.
Summit Finance has mandated three lead underwriters, PT DBS Vickers Securities Indonesia, PT HSBC Securities Indonesia, and PT Standard Chartered Securities Indonesia.
The bonds, consisting of four series A, B, C and D, are scheduled to be listed at Indonesia Stock Exchange on October 29 2010.A Series bond will mature in 370 days, B series in 2 years, C seris in 3 years, and D series in 4 years.
The company booked IDR1.16 trillion revenue as of May 2010 and IDR301.66 billion net profit

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