Waskita’s New Bond Offering Lightens Primary Activity
The book building period for Waskita Karya, Tbk (WSKT:IJ) bond has ended on 18 September with an excess order book reached IDR 7.5 trillion, oversubscribed 5 times. As the bond received strong demand, Waskita able to set the coupon rate at a lower limit with Series A (3 years) offered at 10.4% and Series B (5 years) priced at 11.1%. Investors’ appetite for Waskita’s bond was strong enough due to its status as state own company and recent tight credit supply in the market. Beside Waskita, Tower Bersama Infrastructure, Tbk (TBIG:IJ) is currently holding book building for its bonds worth IDR 1 trillion bond. Tower is offering 3 bonds series; Series A (370 days) with indicative coupon rate set at 8.5% – 9.0%, Series B (3 years) with indicative coupon of 10.0% – 10.5% and Series C (5 years) with indicative coupon of 10.5% – 11.0%. We expect the demand will be kept buoyed by strong market liquidity recently.
Indika Energy Bond Oversubscribed 6 Times
Chandra Asri Global Bond Oversubscribed 7.33 Times
Oversubscribed Bonds Offering Marks Growing Indonesia Market Liquidity
Bonds Auction Oversubscribed by 3.7 Times
USD Sukuk Received 3.1x Oversubscription
Meanwhile, Adira Finance, Tbk (ADMF:IJ) has stated to issue another bond worth IDR 1 trillion in the remaining months of this year. Previously, Adira Finance, a subsidiary of Bank Danamon, Tbk (BDMN:IJ), has just issued 3 bonds series last month. Year to date, the company has issue 7 series bond worth a total of IDR 2.9 trillion. HK Realtindo, Hutama Karya’s property subsidiary, was also reported to release medium term notes (MTN) worth IDR 550 billion before the end of this year It will be followed by bond issuance worth IDR 650 billion – IDR 750 billion in early next year. HK Realtindo is aiming to raise a total of IDR 2.8 trillion from capital market both from equity and bonds offering. For the equity offering, the company targets to raise up to IDR 1.5 trillion from next year’s Initial Public Offering (IPO).
