July Issuance Gets Slower to IDR8.1trn
There are 8 bonds issuers in July with total issuance of IDR8.1trillion, it was much lower than IDR22.4trillion booked in June. Less corporate bonds issuance in July was due to Idul Fitri holiday, urging issuers to delay bonds issuance this month. Current ongoing issuance is Bank Tabungan Negara, Tbk (BBTN IJ, idAA+/Sta) offering Shelf Registration Bond II Tranche II that split into 2 series; Series A having 3 years of maturity and Series B having 5y maturity. Company targets to raise a total of IDR3trn from these two series bonds offering. The book building period is held on 18 July to 1 August 2016 and the public offering will be conducted on 19-23 August 2016. The company’s result in 1H looks decent with the net profit rose 25.4% to IDR1.04trn in 1H16 while its loan increases 18.39% to IDR149.2trn from IDR126.2trn last year. The bank’s NPL declined to 3.41% from 4.7% recorded last year.
