Middle SMF Assess Options for Long Term Funding

By : Abraham Sihombing And Aldo Bella Putra | Tuesday, October 10 2017 - 19:00 IWST

PT Sarana Multigriya Finansial (SMF) (Foto Ist)
PT Sarana Multigriya Finansial (SMF) (Foto Ist)

INDUSTRY.co.id - Jakarta - PT Sarana Multigriya Finansial (SMF) is now reviewing several ways to obtain long-term financing at low interest rates. The funding will be used to finance mortgage bills from mortgage brokers cooperating with SMF.

"To obtain the funding, we can do three options, namely the issuance of regular bonds, can also be the issuance of Securities Licensed Assets Letter of Participation (EBA-SP), or other possibility is the issuance of global bonds denominated in rupiah," said Heliantopo SMF Finance and Securitization Director, in Jakarta, Monday (09/10/2017).

Heliantopo said, it will continue to seek sources of funds of competitive interest. So in this issue, there are two problems faced, namely the amount of the nominal value of funding and the amount of interest costs.

Heliantopo revealed, it will continue to open various opportunities available to obtain long-term funding. One of the most enabling options for the time being is the issuance of global bonds denominated in rupiah.

"Currently, we are studying the possibility to issue global bonds denominated in rupiah. We are also looking for the right time to issue this type of bond," said Heliantopo.

Heliantopo said that the option still depends on the company's liquidity requirement. It is currently preparing the Company's Work Plan and Budget (RKAP) 2018.

This is done to determine the projected needs and availability of liquidity to meet housing finance. SMF may issue a global bond in rupiah next year. It depends on SMF's liquidity by taking into account global investor opportunities for Indonesia.

"If global bonds are okay and we count in, we run. We are currently looking at the process of issuing global bonds of rupiah-denominated bonds owned by PT Jasa Marga Tbk," concluded Heliantopo. (Abraham Sihombing)

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