Bisnis Indonesia - Bisnis.com

JAKARTA: A state-owned mortgage secondary financing, PT Sarana Multigriya Finansial again issued IDR100 billion medium term notes (MTN).

This second-phase issuance of MTN III is part of SMF’s plans to gradually issue MTN. It issued the first-phase MTN III on October 17 worth IDR205 billion, bringing the total outstanding MTN III 2011 issued by the company to IDR305 billion.

SMF set 8.2% fixed rate for the MTN that will mature on 14 October 2012, said PT Kustodian Sentral Efek Indonesia President Director Ananta Wiyogo. SMF assigned Bahana Securities as the arranger of the above mentioned MTN issuance.

“The interest payment will be conducted in every three months. The first payment takes place on 20 January 2012,” said Ananta in the company’s official statement yesterday.

Based on Bisnis’s data, the company plans to issue IDR750 billion bonds this year, maturing in three until five years.

In order to realize this plan, the company has appointed three underwriters at the issuance of bonds V/2011, namely Bahana Securities, PT Andalan Artha Advisindo Sekuritas and PT CIMB Niaga Securities Indonesia.

SMF will further disburse the proceeds to financial institutions focusing to provide mortgage loan facility, said SMF Director Sutomo.

SMF’s total outstanding mortgage financing is IDR3.1 trillion. It has disbursed IDR900 billion loans to three Sharia-based banks, namely Bank Negara Indonesia Sharia (IDR200 billion), Bank Tabungan Negara Sharia (IDR400 billion) and Bank Mandiri Sharia (IDR300 billion). (T02/NOM)

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