JAKARTA (Indonesia Today) – State financing firm PT Permodalan Nasional Madani (PNM) had issued medium term notes (MTN) worth Rp125 billion, effective September 18, 2013.
The MTN has tenor of 18 months and offers return of 8.3%.
While media earlier reported PNM Investment Management, unit of PNM, had issued small micro business-based mutual funds worth Rp125 billion, invested by 7 institutional investors.
The mutual fund has tenor of 18 months. PNM Investment Management had in 2011-2012 launched micro financing for state-owned enterprises totaling Rp700 billion.
PNM Investment Management targets to manage funds of Rp2.3 trillion by end of this year. As of now, the company booked Rp1.7 trillion funds under its management.
Meanwhile, by end of May, 2013, PNM operated 22 office brances, 95 clusters, and 572 service units. It targets to book financing of Rp3.3 trillion this year, a 17.8% rise compared to Rp2.8 trillion last year.