The car financing PT Astra Sedaya Finance, unit of Indonesia’s PT Astra International Tbk , plans to raise Rp 2 trillion ($151.51 million) from issuing bonds in May. The issuance is the first part of the company’s Rp 8 trillion bond issuance over the two years period. The book building on March 6, offer the bonds on May 3 and 4 before listing it on the Indonesia Stock Exchange on May 12. The company has appointed PT CIMB Securities Indonesia, PT Indo Premier Securities, PT Mandiri Sekuritas, and PT OCBC Securities Indonesia as underwriters for the bond issuance. Global rating agency Fitch Ratings has affirmed Astra Sedaya’s AAA national rating, reflecting the lowest default risk compared to domestic peers.