JAKARTA: PT BCA Finance--a unit of Indonesias largest private bank by market value PT Bank Central Asia Tbk-- plans to increase its bonds issuance to IDR1.1 trillion from IDR1 trillion due to higher demand.In a prospectus published today, the company releases bond in five series with coupon range 7.9% to 9%.Series A bonds values IDR392 billion with 370 days tenor, offering coupon at 7.9% while series B bonds worth IDR178 billion with 15 months tenor, employing 8.1% coupon and series C costs IDR230 billion with 24 months tenor, using 8.7% coupon.The remaining two series are series D which values IDR200 billion with 36 months tenor, employing 8.9% coupon and series E worth to IDR100 billion with 48 months tenor, using coupon of 9%.BCA Finance had appointed four underwriters to handle the bonds issuance, including PT Bahana Securities, PT DBS Vickers Securities Indonesia, PT Standard Chartered Securities Indonesia and PT Transasia Securities. PT Bank Mega Tbk in that case will act as a trustee.The Indonesia credit rating PT Pemeringkat Efek Indonesia has assigned idAA+ with stable outlook for the bonds, whilst PT Fitch Rating Indonesia has given AA+(idn).The offering will start tomorrow until Thursday and listing at the Jakarta Stock Exchange is set for June 23, 2011. The companys total debt reached IDR2.04 trillion as of December 31, 2011.BCA Finance posted a 48.7% increase in the net income last year to IDR576.84 billion, bolstered by higher revenues. The assets of the company as of December 31, 2010, jumped 55.5% to IDR3.25 trillion mainly by the increase in consumer financing receivables.Previously, President Director Roni Haslim said the company received high demand for the bonds up to IDR2 trillion. BCA Finance will use the proceeds to strengthen its working capital. (msw)

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