Two New Issuers From Multifnances Names

Indonesia primary market remains light at this week trading with two new issuers from multifinance eyeing to release bond, they are; BFI Finance Indonesia (BFIN IJ, idA+/Pos) and Maybank Indonesia Finance (MIF, idAA+/Sta). BFIN is offering IDR1trn bonds which split into 3 series with tenures of; 370 days priced at 8.00% – 8.75% 3 years at 8.75% – 9.50%,  and 5 years at 9.00% – 9.875%. The bookbuilding period will start today (21/09) until 4 October 2016. Meanwhile, Maybank Indonesia Finance is still proposing to issue IDR1.5trn of continuous bond tranche III 2016, which will have a maturity up to 5 years. Note that currently there are two multifinance companies still offering bonds in the primary market; Astra Sedaya Finance and Mandiri Tunas Finance that offering IDR2trn and IDR 500 billion bond respectively.  For the record, corporate multifinance bonds issuance year to date have reached IDR21.8trn, accounting c. 33% of total ytd corporate bonds issuance.

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