JAKARTA (Yosefardi) – Heavy equipment distributor PT United Tractors Tbk (UNTR), member of Astra group, has purchased medium term notes (MTN) of Rp750 billion issued by PT Surya Artha Nusantara Finance (SanF), also member of Astra group.
UNTR targets to purchase SanF’s MTN of Rp1 trillion. The MTN carries annual interest rate of 6.5%. Astra holds 60% stake in SanF while Marubeni Corporation holds 35%. The rest 5% is owned by PT Marubeni Indonesia.
Astra controls 59% stake in UNTR. The rest was held by public investors.