Kategori: Finance

The rating reflects company’s strong performance as one of the largest Indonesia independent multi-finance company. The outlook upgrade was underpinned by Fitch’s expectation that BFI Finance Tbk (BFIN:IJ) will continue to sustain sound financial performance with strong balance sheet to withstand market volatility and macroeconomic headwinds. BFI Finance’s solid financial performance during 9M15 was driven.

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.

Bank Syariah Mandiri (BSM) is reviewing to issue Subordinate Sukuk worth IDR500Bn in 1H16. The proceeds will be used to refinance the maturing sukuk worth IDR 500 bn next year. Besides, PT Bank BNI Syariah Tbk (BNIS:IJ) is also planning to release another sukuk after successfully issuing sukuk mudharabah worth IDR 500 bn in April.

Pemeringkat Efek Indonesia (Pefindo) affirmed idAA for PT Mandiri Tunas Finance (TUFI) and its outstanding Shelf Registration Bond I/2013. The same rating also affirmed for the proposed Shelf Registration Bond II/2015 with a maximum amount of IDR 2 trn. The rating reflects the company’s status as core subsidiary of Bank Mandiri (BMRI:IJ idAAA/Stable), strong business.

Pemeringkat Efek Indonesia (Pefindo) has affirmed PT Bank Pembangunan Daerah Jawa Barat & Banten Tbk or Bank BJB (BJBR:IJ) ratings at ‘idAA-‘ with its outlook was revised to stable from negative. The similar rating also affirmed for its outstanding bond VII/2011. The outlook upgrade is driven by the sustainable recovery in Bank BJB’s asset quality..

BII Finance Center is currently offering two new series bond under the program of Shelf Registered Bond I Tranche I. Two offering bonds are; Series A (3 years) priced at 10.35% and Series B (5 years) at 10.90% coupon rate with the face value of IDR 300 billion and IDR 200 billion respectively. The bond.

Corporate flows were active on last week trading, led by multifinance and banks bonds. Total weekly flows were IDR 3,055 bn, rising from IDR1,778 bn last previous week. Trading frequency was also increasing, almost doubled from 283x last week to 493x. Trading activity last week was skewed to multifinance and banks bonds with a combined.

Indomobil Finance (IMFI) has conducted book building for Shelf Registered Bond II Tranche II with the coupon rate for 1y bond at 10.25%, higher 115 bps than its previously issued bonds on last April. Meanwhile, 3y and 4y bonds were priced at 10.75% and 11% respectively. They were both higher 75 bps than the last.

Indonesia corporate bonds were less active on last week trading amidst shorter trading days. We saw IDR 1,778 bn worth of trades only, lower 45% WoW while trading frequency was also down 28% WoW to 283x. We saw banks names mostly dominated trading activity in last week trading with a total of IDR 829 trades.

Indonesia corporate bonds yield tightened sharply on last week trading with the yields fell in all maturities curve supported by a relief rally of IDR which strengthened 8.4% WOW to IDR 13,412 per US dollar. Credit yield fell in all tenor bonds and rating classes by an average of 65 bps WoW. Flows also rose.