Four SOEs offers asset-backed securities Rp15 trillion

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BOGOR (TheInsiderStories) – Four state-owned enterprises (SOEs) will offer asset-backed securities with total amount Rp15 trillion in this year, said the minister last week. Power producer PT Perusahaan Listrik Negara (PLN) plan to raise funds with worth Rp10 trillion from the securities instrument, while PT Jasa Marga Tbk (IDX: JSMR) Rp1 trillion, PT Bank Tabungan Negara Tbk (IDX: BBTN) Rp 1 trillion and PT Bank Mandiri Tbk (IDX: BMRI) Rp 1 trillion.

“For PLN and Jasa Marga Asset-backed securities is based on the long-term revenue while BBTN and BMRI with underlying mortgage credits,” the SOEs minister Rini Soemarno told press.

The SOEs, She added, will use the fund to finance their business expansion to support the government’s development programs.

On Friday, Bank Tabungan Negara conducted a public offering of property credit derivatives named Asset-backed Securities Letter of Participation – Financial Multifriya Means – Bank Tabungan Negara Number 03 class A (EBA-SP SM-BTN03 class A) amounted to Rp 913 billion. The EBA-SP issued by BTN is divided into two classes A.

EBA class A1 principal amount of Rp 200 billion with an interest rate of 8%. Meanwhile, EBA A2 class of Rp 713 billion with type and interest rate of 8.40%. Each EBA is due on July 7, 2029.

Meanwhile, the date of registration of EBA-SP BTN at Indonesia Stock Exchange (BEI) was recorded per May 2, 2017 with the first interest payment for EBA falls on July 27, 2017. There are five securities companies appointed as selling agents, among others PT CIMB Securities Indonesia, PT Mandiri Sekuritas, PT Danareksa Sekuritas, PT BNI Securities and PT Mirae Asset Sekuritas Indonesia.

Financial Service Agency intends to deepen the market to invite investors into the Indonesian capital market through the issuance of various instruments.