SMS FINANCE ISSUES BONDS WORTH RP200 BILLION

Jakarta, Dec 10 (ANTARA) - Motor vehicle financing firm PT Sinar Mitra Sepadan Finance (SMS Finance) has issued SMS Finance I bonds worth Rp200 billion in an effort to increase its business funding, SMS Finance President Director Sugianto Rejeki said.

In his report to the stock exchange market here on Thursday, Sugianto Rejeki said that the funds earned from the public offering would all be used to finance motor vehicles' ownership credits.

He said that it was for the first time for SMS Finance to issue bonds with a repayment period of between 370 days and three years and with a fixed interest rate payable in every quarter.

Rejeki said the bonds had obtained the BBB+ rating with a stable outlook from Fitch Rating Indonesia.

The underwriters of the bond issuance are PT Ajndalan Atha Advisindo Sekuritas and PT Pasific Capital, he said.

The bonds would be floated at the Indonesia Stocks Exchange (BEI) on January 11, 2010 with a public offering in December 2009.