Indonesia Primary Activities are Picking Up

Eximbank released 3 new bonds series last week with a total of IDR1,979 billion issuance size. The three series bonds are; Series A (370 days) has IDR757 billion in principal value while Series B (3 year) and Series C (5 year) carried IDR 309 billion and IDR 913 billion of principal value respectively. This new eximbank bond issuance made a total YTD issuance rising to IDR 52 trillion versus IDR 46 trillion last year. On the pipeline, Waskita (WSKT:IJ) is holding the book building for its Self Registered Bond I Tranche II worth IDR 1.5 trillion.

Astra Sedaya Offers Coupon up to 7.65%

XL Axiata to Offer IDR2.18Trn Islamic Bonds

Primary Activity Boosted by Multifinance Bonds Offer

2016 Corporate Issuance to Reach IDR110Trn

Indonesia FR0072 Price Climbs as Supply Looks Thin

Meanwhile, XL Axiata, Tbk (EXCL:IJ) has stated their plan last week to release sukuk worth IDR 1.5 trillion in 2H. We expect the primary activity will be busier in the rest of this second semester on the back of higher refinancing needs. While recent IDR volatility should push issuers to restructure its foreign debt into IDR denomination. Furthermore, The Fed decision that still delaying its rate hike might trigger issuers to take this opportunity to get some bonds issuance out locking in current rate.

Issuers Staying on the Sideline

Waskita’s New Bond Offering Lightens Primary Activity

Federal Finance Hit Primary Market with 2 New Bond Series

Primary Activities Get Busier This Month

SPN-S 07042016 Grabbed Strong Buying Interest at Indonesia Sukuk Auction