ONTAN.CO.ID - JAKARTA. PT Toyota Astra Financial Services (TAFS) has announced its readiness to make bond payments that will mature on February 23, 2025.

Reporting from the disclosure of information, Tuesday (28/1), TAFS Director Budi Setiawan explained that the company has prepared funds to pay off the payment of Toyota Astra Financial Services Continuous Bonds III Phase II Year 2022 Series B amounting to IDR 1.02 trillion.

"The source of funds that will be used to pay the bonds comes from the company's internal funds," he said in an official statement, Tuesday (28/1).

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For information, this Series B Bond is part of Toyota Astra Financial Services Continuous Bonds III Phase II Year 2022 with a total issuance value of IDR 1.5 trillion.

The bonds consist of two series. The first series is Series A bonds which have a principal amount of IDR 480.1 billion with a fixed interest rate of 3.60% per year. The term of Series A bonds is 370 days from the date of issuance.

Series B bonds offer a principal amount of IDR 1.02 trillion with a fixed interest rate of 5.70% per year and a term of three years.

TAFS stated that the funds obtained from the public offering of these bonds after deducting all issuance costs were used by TAFS for working capital for motor vehicle financing.