SMRA and WOMF’s Bond Oversubscribed 1.5 – 1.7 Times
Summarecon Agung Tbk (SMRA:IJ) and Wahana Ottomitra Multiartha Tbk (WOMF:IJ) received overwhelming bids for their new bonds offering since their three issues bonds were oversubscribed by 1.5 times – 1.7 times. SMRA received an order of IDR 750 billion – IDR 850 billion for 3y and 5y bond respectively, above IDR 500 billion target. SRMA is offering two series bonds (3y and 5y bond) under its Shelf Registered Bond II tranche I/2015. However, SMRA decided to issue one series bond only i.e. 5y bond as it was seen more attractive for investors given 11.25% coupon rate, 25 bps higher than offering floor. On the other hand, WOMF booked IDR 800 billion order for its IDR 600 billion new offering bond. WOMF set the coupon rate for 1y bond at 9.35% and 10.8% coupon rate for 3y bond.
