AP I and SMI’s Final Coupon Rate Set Closer to Upper End of Guidance

Two AAA stated owned companies have set the final coupon rate on their new bonds where the rates were fixed closer to the upper end of its guidance. These two companies are Angkasa Pura I (idAAA/Sta) offering conventional and Islamic bonds worth IDR2.5 trn bonds and IDR500bn respectively and Sarana Multi Infrastruktur (SMI, idAAA/sta) offering IDR5trn bond. The final coupon rates of SMI’s 5 years and 10 years bonds were set higher 10 bps than AP I. Both SOEs will hold public offering next week where SMI has started the public offering since 11 Nov till 15 Nov while AP I will hold it on 14-15 Nov.

2017 Issuance to Stay Bright Amid High Refinancing Need

Primary Market Less Active During The Week

Primary Activity Boosted by Multifinance Bonds Offer

Corporate Bonds Sales Shadowed by Rising Govvies Yield

Indonesia Govvies Yield Spread Tightened in December