Federal Finance Hit Primary Market with 2 New Bond Series
The new bonds release has been falling since the last two months as issuers turned cautious on higher premium expected by investors. However, there were two new bonds series released by Federal International Finance (idAAA) totaled IDR 1.5 trillion. Company issued short term bonds i.e. Series A (1 year) offered 8.5% coupon rate on IDR 913 billion of face value and Series B (3 year) carried 9.25% coupon with IDR587 billion of face value. Prior to this issuance, the company has released the same maturities bonds at the end of April with bigger issuance amount totaled IDR 3 trillion.
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In addition to that, Waskita Karya, Tbk (WSKT:IJ) (idA) and Tower Bersama, Tbk (TBIG:IJ) (AA-idn) were reported to release bonds in short term. Waskita Karya (idA) has appointed three underwriters to proceed the bonds issuance plan amounted to IDR 1.5 trillion. The bond proceed will be used to finance the highway project. Meanwhile, Tower Bersama (AA-idn) planned to release a minimum of IDR 1 trillion of bond between October and November this year. The bond proceed is aimed to refinance some of its maturing debt worth USD 200 million due on 4Q 2015.
