IMFI’s Coupon Rate Scaled Higher 75 bps than Previously Issued Bonds
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 issued bonds. Higher coupon rated offered by IMFI attracted slightly decent investors demand which cause the company to upsize the bond to IDR 585 bn from previously targeted IDR 500 bn. With new IMFI issuance, YTD corporate issuance now amounted to IDR 53,075 bn, higher 15% from a year earlier.
Indomobil Finance Issue Bonds worth IDR410Bn
Primary Market Less Active During The Week
The 3y and 5y of Bank BTN Bonds Offer c.172-211bps Risk Premium
The Reopening PBS013 amid the end of SR009 Holding Period
Private Placement Drove Indonesia PBS009 Yield Tightened 25 Bps
On the pipeline, PT Angkasa Pura I (Persero), airport operator for centre region of eastern Indonesia, is reviewing to issue bond to finance its airports development in the next five years. Angkasa Pura I will need financing up to IDR 15 tn with around IDR 10 tn will be funded through bonds sales where the rest will come from bank loan and internal cash.
