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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.

On the rating front, Pemeringkat Efek Indonesia (Pefindo) has awarded AAA/Stable for state owned company, Perusahaan Gas Negara Tbk (PGAS:IJ), driven by its important role for Indonesian government, strong position in domestic transmission and distribution gas business supported by widespread pipeline network in Java and Sumatera. Furthermore, the company’s strong liquidity and stable gas demand.

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.

Some Indonesia State Owned Enterprise (SOE)s who have stated to release bond next year were; Jasa Marga, Tbk (JSMR:IJ), Wijaya Karya, Tbk (WIKA:IJ), Semen Indonesia, Tbk (SMGR:IJ) and PP Properti, Tbk (PPRO:IJ). In the purposed state budged 2016, WIKA would receive IDR 3 trn from state capital to work on some infrastructure projects. The company.

Summarecon Agung, Tbk (SMRA:IJ) will release Shelf Registered Bond II Tranche I worth IDR 500 billion into two bonds series i.e. 3 and 5 years maturity period. The indicative price for 3y bond is set at 10.5% – 11% while 5y bond at 11% – 12%. Summarecon plans to use 70% of the proceeds for.

Last week’s IDR weakness that tumbles back to IDR 13,695/USD coupled with lackluster market sentiment have stirred market participant on the sideline. Trading activities on last week trading were weak with total market volume declined 27% WoW to IDR 2,246bn vs IDR 3,055 bn in the previous week. Meanwhile, trading frequency decreased slightly to 493x.

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.