Motor Vehicle Financing Company, PT. Federal International Finance or FIF, has this year budget for the motorcycle credit financing valued by Rp. 12,5 trillion

Aside from bonds, FIF will accomplish the budget fund from the internal co-partnership cash deposit, by co-financing with a number of bank, and from loan from public and foreign bank.

The President Director of FI, Suhartono, in a public event on Tuesday (1 / 4) says that from the Rp. 12,5 trillion funds, FIF will set target of financing credits for more than 1,2 million unit of motorcycle.

As much as Rp. 10 trillion of the fund will be used to finance credits for about 925.000 new motorcycle. As for the rest, the fund will be used for financing credits of about 280.000 used-motorcycle and electronic goods.

For more than a year, FIF has accessing the electronic goods financing market. FIF now will also publish bond worth of Rp. 1 trillion with fixed coupon rate at range of 9,5 percent to 11,48 percent per year.

This bond will be issued on late April of 2008. Level of interest will be specified by the offering period of April 30th to May 5th, 2008. The bond will consist of three series.

The A series with 370 day duration will be offered with interest rates at 9,5 percent to 10,1 percent, and the B series with 24 month duration will be offered with interest rate of 10,35 percent to 10,85 percent. As for C series with 36 month duration, the offer will be with interest rates at 10,98 percent to 11,48 percent.

Guaranteed By Receivables

The payment for the FIF bond interests rate, of which achievement levels AA minus by PT Pemeringkat Efek Indonesia, will be conducted by three monthly payment.

FIF grant this bond with the co-partnership fluent receivables. As to grant the emission execution, FIF had appointed three brokerage firm, which are PT Indo Premier, PT Mandiri Sekuritas, and PT Kresna Graha Sekurindo Tbk.

This bond was the eighth FIF bond. The first bond valued Rp. 300 billions was published by the year of 2002, and the seventh bond valued Rp 1 trillion published by the year of 2007. In a whole, FIF had issued bonds of total amount of Rp. 4,65 trillion. From that value, FIF has repaid bonds due to fall period in total amount of Rp. 3,25 trillion

According to Suhartono, the 1 trillion rupiahs funds result from this year bond sales will be used to fulfill the requirement for financing the motorcycle credits.

Director of PT Kresna Graha Sekurindo, Andrew Haswin, enhance that the FIF VIII bond has been registered at the Indonesian Securities and Exchange Commission (or Badan Pengawas Pasar Modal dan Lembaga Keuangan) on last March 17th.

After the final period of offer at 5 May, there will be rationing and order payment conducted on May 6th and 7th. It was planed that the record-keeping in Indonesian Stock Exchange will be done at May 9th, 2008.
( KOMPAS - REI)