[PRESS RELEASE]- HINO FINANCE INDONESIA ISSUED BONDS III YEAR 2024
Jakarta, 07 June 2024 - In accordance with the commitment of PT Hino Finance Indonesia ("the Company") to become a sustainable issuer, the Company conducting a Public Offering of Hino Finance Indonesia Bonds III 2024 with a maximum principal amount of IDR 700 billion ("Bonds III"). To greet Investors and provide them with further information, the Company held an Investor Gathering which was held online.
Bonds III consist of two series, namely series A and series B bonds. Series A bonds have a fixed interest rate and have a term of 370 (three hundred and seventy) calendar days. Meanwhile, series B bonds have a fixed interest rate and a term of 3 (three) years. Bond payments will be made in full (bullet payment) at maturity.
The interest rate offered for series A ranges from 6.50%-7.10%, while for series B it ranges from 6.65%-7.35%. Bond Interest will be paid every 3 (three) months according to the payment date of each Bond Interest.
The Company received an "AAA(idn)" rating on its Long-Term Debt Letters from PT Fitch Ratings Indonesia. The national rating "AAA" indicates the highest rating given by Fitch on a national scale for Indonesia, so this bond is carried out on a clean basis without special collateral.
The funds obtained from this Public Offering of Bonds will be used to refinancing the principal of Bond II Hino Finance Indonesia Year 2023 Series A, and the remainder will be used as working capital for the Company.
The parties acting as Underwriters for the Bond Issue are PT Aldiracita Sekuritas Indonesia, PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas and PT Indo Premier Sekuritas. Meanwhile, the Capital Market Supporting Institutions and Professionals are PT Bank Rakyat Indonesia (Persero) Tbk. as Trustee, Purwantono, Sungkoro & Surja (Ernst & Young) as Public Accounting Firm, Thamrin & Partners (“TR&Co”) as Legal Consultant, and Ir. Nanette Cahyanie Handari Adi Warsito S.H. as a Notary.
Bonds III will enter the Initial Offering Period on 07-20 June 2024 with an estimated effective date on 25 June 2024 followed by a Public Offering Period on 27 June - 02 July 2024. Electronic distribution of the Bonds is planned to be carried out on 05 July 2024 and will be listed on the Indonesia Stock Exchange on 08 July 2024.
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For further information, please contact:
Corporate Secretary
PT Hino Finance Indonesia
Tel. (021) 2982 7960
Fax. (021) 2982 7861
Email. corporate.secretary@hinofinance.co.id
About the Company
The company was established under joint venture agreement by and between Hino Motors Ltd., PT Indomobil Multi Jasa Tbk., and Summit Global Auto Management B.V. (part of Sumitomo Corporation) based on the Deed of Establishment dated 11 of July 2014.
The Company is a specialist finance company for commercial trucks, especially for Hino brands product, which exist to support the sales of Hino products in Indonesia through financing services solutions such as Finance Lease, Sales and Lease Back, and other products in accordance with the Company’s Article of Association.
Until now, the Company has 12 marketing points spread across major cities in Indonesia to provide the best service to the customers.
The company is registered in Indonesia Financing Company Association and in running its business, the Company supervised by Financial Services Authority.