Kategori: Finance

Pemeringkat Efek Indonesia (Pefindo) raised the rating on Sarana Multi Infrastruktur (SMI) to AAA from AA+ with the outlook maintained stable. The upgrade was driven by stronger government support as reflected by a capital injection of IDR20.4trn last year. This rating reflects the company’s status as critical government related entity, the high potential demand for.

Indonesia primary market was seen lighter in February with a total bonds issuance reaching IDR9.69trn versus IDR760bn in January. Total year to date issuances sum up to IDR10.45trn, it was doubled than last year issuance that amounted only IDR5.07trn in the first two months of the year.  Bank BRI was recorded as biggest issuer so.

Indonesia Bank Pembangunan Daerah Sulawesi Selatan and Barat’s (Bank Sulselbar) rating and its outstanding bond I/2011 were upgraded to ‘idA+’ from ‘idA’. The rating on bank’s sukuk mudharabah I/2011 was also upgraded to ‘idA+(sy)’ from ‘idA(sy)’ with a stable outlook. The rating upgrade due to its financial indicators are continuously improved including capitalization and asset.

Eximbank (idAAA/Stable) will list three new bonds series on Monday (22/02) where likely dominate secondary market activity next week. However, the offering coupon rate for these three new bonds series seem to be fairly valued relative to other Eximbank’s bonds being traded in the secondary market. For series A (370 days), Eximbank offers 8.5% coupon.

Indomobil Finance (idA/Stabil) or IMFI has started  a book building for its three new bonds series: 1y priced at a range of 9.5%-10.25%; 3y at 10.4%-11.15% and; 5y at 10.5%-11.25%. The company has 6 bonds series maturing this year worth a total of IDR1,285 bn and IMFI also has issued IDR1.09trn bonds last year to.

Mandiri Tunas Finance (idAA/Stable) and Pegadaian (idAA+/Stable) are among other two issuers who have revealed the plan to release bonds this year. Mandiri Tunas Finance or TUFI planned to issue IDR1.4trn bond this year which will be split into two tranches, expected to be issued in the first and second semester this year. TUFI’s funding.

Fitch Rating Indonesia upgraded national rating on Bank Tabungan Pensiunan Nasional Tbk (BTPN) to  AAA(idn) from AA+(idn) with a stable outlook. The upgrade was driven by its parent’s strong credit profile, Sumitomo Mitsui Banking Corporation (SMBC) which its rating also upgraded to ‘A’ from ‘A-‘ last year. The rating upgrade on BTPN indicates strong tendency.

The newly offered bonds by Bank Rakyat Indonesia, Tbk (BBRI:IJ) are priced at 8.5% for 1y bond while the 3y and 5y bonds priced at 9.25% and 9.6% respectively. They all are higher by 5-10bps than the coupon rate given on its similar bonds last year. Note that the bank has also issued 3 bonds.

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.

Total maturing bonds in January amounted to IDR 1.1trn, of which IDR500bn is owned by Bank Nagari and the rest belong to Danareksa and Bima Multifinance. In the face of upcoming maturing bond, Bank Nagari is issuing IDR500bn bond and IDR100bn sukuk which will be listed in 11 January. The new issued bond will be.