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Home  >>   Daily News  >>Indonesia>>Finance>>State mortgage firm SMF issues $125 million bond
NEWS UPDATES Asean Affairs     March 6, 2017  





State mortgage firm SMF issues $125 million bond

State-owned secondary mortgage company Sarana Multigriya Finansial (SMF) has issued a Rp1.68 trillion (US$125 million) bond to support the company’s mortgage business.

The bond is divided into two series: a one-year tenor A series with a total value of Rp 677 billion and a 7.5 percent annual coupon rate, and the B series with a value of Rp 1 trillion and a 8.4 percent annual coupon rate.

The first coupon payment will begin on June 12 and will end on March 12, 2018 for the A series, and on March 2, 2020, for the B series.

The latest bond issue is the last of its third shelf-registration bonds totaling Rp 6 trillion.

SMF president director Ananta Wiyogo said in the third or fourth quarter, the company would propose another shelf-registration bond of Rp 12 trillion plafond.

Ananta added that the bond was oversubscribed by 1.9 times. However, because it was the last issue, company can only absorb the remaining plafond of Rp 1.68 trillion. The money from the issue will be channeled to loans for mortgage lenders.

"The bond issue will support the government's One Million Houses program through a refinancing facility," he said at the Indonesia Stock Exchange (IDX) building on Friday.

The company is working with regional development banks all over Indonesia to support its mortgages business.

It is also working with seven multi-finance companies.

"The multi-finance companies are flexible in distributing mortgage loans. We hope to channel Rp 100 billion to the companies this year," SMF securitization and finance director Heliantopo said.



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It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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