Two state firms, PT Sarana Multi Infrastruktur (SMI) and Indonesian Eximbank seek funds from the bond market with total amounts Rp3.85 trillion (US$273.04 million), both said in official statement today (10/16) - Photo: Special

JAKARTA (TheInsiderStories) – Two state firms, PT Sarana Multi Infrastruktur (SMI) and Indonesian Eximbank seek funds from the bond market with total amounts Rp3.85 trillion (US$273.04 million), both said in official statement today (10/16). The bonds will listing at Indonesia Stock Exchange this month.

Financial company, SMI planned to issue local bond worth of Rp2.8 trillion from the Rp25 trillion program. So far, the firm has released Rp7.09 trillion.

The bonds will be issued in four series. Series A has values Rp654.5 billion with a tenure of 370 days and an interest rate of 6.75 percent. Series B was issued a three-year notes with total amount Rp727.5 billion with an interest rate of 7.75 percent.

Then, Series C worth of Rp481 billion has a five-year tenure and an interest rate of 7.95 percent. While, Series D with values Rp942.25 billion with an interest rate of 8.3 percent and a seven-year tenure.

SMI received an AAA rating from PT Pemeringkat Efek Indonesia and has appointed PT BCA Sekuritas, PT CGS-CIMB Sekuritas Indonesia, PT Danareksa Sekuritas, PT Indo Premier Sekuritas and PT Mandiri Sekuritas as joint-lead underwriters.

The company has received an effective statement for the issuance on June 17 and scheduled the public offering on Oct 24-25 and listing on the Indonesia Stock Exchange on Oct 31. The funds will be used to finance infrastructure projects.

In the first half of 2019, Sarana Multi Infrastruktur financing and loans that have been distributed recorded Rp54.02 trillion, jumped 18.43 percent from the end of 2018, which reached Rp45.61 trillion.

While, Indonesia Eximbank announced to release bonds worth of Rp1.05 trillion of multi-years program with total amount Rp26 trillion. In 2018, the company had issued part of the bonds with a valued Rp6.23 trillion. This year, the lender will issue Rp6.86 trillion, bringing the total bonds issuance Rp13.09 trillion.

As for bonds worth Rp1.05 trillion, they will be issued in five series. Series A has a principal value Rp600 billion with a tenure 370 days and has an interest rate of 7 percent. Series B is offered as much as Rp101.3 billion with three-year tenure and an interest rate of 7.8 percent.

Series C is offered with worth of Rp25.5 billion with a five-year tenure and an 8.1 percent interest rate. Then, Series D and Series E are offered at 8.5 percent and 8.75 percent, respectively.

Indonesian Eximbank has received an effective statement from Financial Service Agency on May 25, 2018. Its scheduled the public offering will be conducted on Oct 23 – 24 and listing at the local bourse on Oct. 30.

The joint-lead underwriters for the bond issuances are PT Bahana Sekuritas, PT BCA Sekuritas, PT BNI Sekuritas, PT CGS-CIMB Sekuritas Indonesia, PT Danareksa Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas and PT Mandiri Sekuritas.

US$1: Rp14,100

Written by Staff Editor, Email: theinsiderstories@gmail.com