PSP affiliate issues bonds

JAKARTA (JP): PT Putra Surya Multifinance, an affiliate of the PSP Group, issued five-year convertible bonds valued at US$26 million yesterday.

The company, a consumer financing provider for motorcycles and second-hand automobiles, will use the proceeds from its bond issuance to refinance its short-term debt and increase its receivable portfolio.

The bonds, whose issuance was arranged by PT Peregrine Sewu Securities, were subscribed to by, among others, DLJ Merchant Banking Partners, Peregrine Indonesia Fund, Soros Capital Indonesia, Japan Asia Investment Co. Ltd., and Nusantara Investment Fund Ltd. (rid)