Modernland and Two SOE’s Plans for Another Bonds Issuances

On this week trading, there were at least three issuers who stated to get the bond issuance out this year. Modernland Tbk (MDLN:IJ idA/Stable) seeks for the second tranche issuance this year following the first tranche release last year. The issuance will be part of IDR2 trn bond program of which IDR 750bn has been released last year. Note that the company has global maturing bond in the 4Q of this year worth a whooping USD150 million. As such, the IDR bond proceed is likely to refinance its maturing bonds with some proceed will be utilized for expansion purpose.

Six SOEs on Positive Outlook at Fitch; 1 Rating Upgrade at Pefindo

BNTT’s Rating Raised One Notch; BVIC’s Outlook Lowered to Negative

Indonesia 1Q Corporate Issuance Climbs 11% QoQ

Bank Indonesia Holds Benchmark Rate, Pushes for Speedy Loan Consolidation

Strong Demand Seen on Indonesia New Benchmark Candidates

Other potential issuers will be two SOEs, they are Telekomunikasi Indonesia Tbk or Telkom (TLKM:IJ idAAA/Stable) and Bank Rakyat Indonesia Tbk  (BBRI:IJ idAAA/Stable) aims to release c. IDR5-6 trn this year. As for Bank BRI, the issuance will be split into two tranches each worth IDR 3trn. For the record, Bank BRI has only one maturing bond worth IDR 655 bn which will come due on late July. The company has also issued a total of IDR 3trn worth of bonds in 2015 which split into three tenors; 1,3, and 5 years. As for Telkomsel, the company expects to release the bond around May and June this year, with the proceeds will be used to finance the expansion of 4G SIM card and tower maintenance.

BNI Banks Issued IDR3trn Bonds

Primary Activity Boosted by Multifinance Bonds Offer

Primary Market Less Active During The Week

Corporate Bonds Sales Shadowed by Rising Govvies Yield

Fitch Affirms Indonesia Ratings at BBB-/Stable