Adira Finance Plans to Issue Bonds and Sukuk in 2024

May 07, 2024, 10.30 PM | Reporter: Aulia Ivanka Rahmana

ILUSTRASI. Workers check the equipment of an electric motorbike?at a dealer in Pondok Aren, South Tangerang, Monday (4/12/2023). Adira Finance's electric vehicle financing for the nine months of 2023 has reached IDR 123 billion, of which around IDR 80 billion is for electric cars and around IDR 40 billion for electric motorbike financing. Adira has also collaborated with various dealers who provide motorbikes and electric cars in Indonesia. (KONTAN/Carolus Agus Waluyo)

MULTIFINANCE - JAKARTA. PT Adira Dinamika Multi Finance Tbk, also known as ADMF or Adira Finance, a financing company, is planning to issue the sixth phase of its Continuous Bonds and the fifth phase of its Continuous Mudharabah Sukuk in 2024.

Adira Finance's Chief Financial Officer, Sylvanus Gani, stated that the company plans to issue the third phase of its Continuous Bonds in 2024 with a principal amount of IDR 1.6 trillion and the third phase of its Continuous Mudharabah Sukuk in 2024 with a fund amount of IDR 400 billion.

As of March 31, 2024, Adira Finance's bond and sukuk loans were recorded at IDR 6.4 trillion, an increase of 22% year on year compared to the same period the previous year.

"Regarding the plan for the next bond and sukuk issuance, the company will continue to monitor business conditions and future funding needs," Gani told Kontan.co.id on Monday (5/6).

For your information, the Indonesian Securities Rating Agency (Pefindo) sees the prospect of debt securities or bond issuance from financing companies, also known as multifinance (leasing), will be more lively in the second quarter of 2024.

Pefindo's Fixed Income Analyst, Ahmad Nasrudin, stated that based on the data collected by Pefindo, four multi-finance companies issued bonds worth IDR 6.50 trillion in April 2024.

In addition to those already issued, as of the end of March 2024, Pefindo has received mandates from four multi-finance companies that will issue debt securities.

The value of corporate debt securities from these four multi-finance companies amounts to IDR 4.5 trillion. From this, Pefindo hopes that issuances by companies in the multifinance sector will continue to show good prospects in the second quarter of this year.