Kategori: Finance

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.

Fitch Ratings Indonesia has assigned A- (idn) on PT Sinar Mas Multifinance (SMMF) for its National Long-Term Rating. The Outlook is Stable.  Its outstanding IDR500bn unsecured bond maturing on 10 April 2018 was also assigned at ‘A-(idn). The ratings indicate its synergies with its shareholder Sinar Mas Multiartha Tbk (SMMA:IJ), due  to small portion of Sinar.

Bank Capital Indonesia, Tbk (BACA:IJ) will issue subordinate bond II worth of IDR 250 billion with 12% of coupon rate. The subdebt have 7 years of maturity and the proceed will be used for additional working capital, especially for loans disbursement as well as improving the asset and liability tenor. In addition, the subdebt issuance.

PT Bank Nagari is offering 10.6% – 11.1% for 5y conventional and sukuk bond with the issue size of IDR 500 bn and IDR 100 bn respectively. Bank Nagari and its conventional and sukuk are rated at A by Pefindo. The book building will be on 8 – 17 Dec 2015 while the public offering.