Adira Dinamika's 1-year bond coupon at 8%

JAKARTA: PT Adira Dinamika Multi Finance Tbk, the subsidiary of PT Bank Danamon Indonesia Tbk, determines one-year V/2011 bond coupon at 8%.Besides the tranche A bond, the two-year bond coupon was set at 8.8%, said three sources in the capital market.Furthermore, it offered three-year bond at 9.6% and 10% for four-year bond.The range of coupon rates for tranche A was initially offered at 7.3% -7.8%, while tranche B was at 8%-8.7%, tranche C at 8.75% -9.5%, and tranche D at 8.9%-9.9%.Other sources said the demand for the corporate bonds is high enough, leaving some potentials for the company to increase the proceeds target from initially IDR2 trillion in response to the large demand on the metod of undewirter's best effort.The subscription that is potentially absorbed by Adira Finance is IDR2.3 trillion with the biggest portions going into tranche C and tranche D.Adira Finance Corporate Secretary Yuky Handojono stated the company still in the process of price establishment. For the issuance, the company appoints PT DBS Vickers Securities Indonesia, PT Mandiri Sekuritas, PT Standard Chartered Securities Indonesia, and PT Indo Premier Securities as the underwriters. PT Bank Negara Indonesia Tbk will serve as trustee.The ADMF-coded share pocketed IDR1 trillion loan facility from PT Bank Pan Indonesia Tbk, last month. (T05/NOM)