AA Rating Companies Issue Bonds. Companies with debt ratings lower than AA are starting to be eager to raise funds by issuing debt securities. Both bonds and sukuk, on the Indonesia Stock Exchange. Danareksa Sekuritas Investment Banking Director Boumedine Sihombing point out. That bond issuance has been on the rise again since July 2020.
After being depress throughout the first semester of 2020. Due to pandemic sentiment. Interestingly, this time the contribution of non-BUMN companies is starting to get busy. The volume of bond issuance has begun to increase. And the contribution of issuers, previously from state-owned companies with AA rating and above.
Are now starting to enter issuers with a single A rating, explained Boumediene. Based on data from the Indonesia Stock Exchange issuance pipeline as of August 31, 2020, there are 20 companies that will issue 23 debt securities in the form of bonds and sukuk. Meanwhile, a company can issue more than one debt security issue.
Furthermore, Boumediene explained that economic conditions would improve in the third quarter of 2020 and the fourth quarter of 2020. With this prospect, there will be room for potential issuers to take corporate action starting in the last quarter of this year. In terms of the IPO deal pipeline, we are still communicating with potential issuers, added Boumediene.
Meanwhile, recently, several securities companies appear to have begun collecting mandates for the underwriting of stocks and bonds to be executed this year and next year. Several companies with mandates include Mandiri Sekuritas, Panin Sekuritas, and Victoria Sekuritas. Apart from Mandiri Sekuritas.
Which will execute the initial public offering (IPO) project next year because the issuance value is above Rp1 trillion, Panin Sekuritas and Victoria Sekuritas will bring new issuers to the stock exchange floor next week. Indeed the mandate for share IPO is increasing. But that’s all for 2021, said Mandiri Sekuritas President Director Dannif Danusaputro.
Victoria Sekuritas will bring PT Kurniamitra Duta Sentosa Tbk. with a potential fundraising of IDR 48 billion on September 7, 2020. The day after, it was PT Puri Global Sukses Tbk’s turn. who will list its shares on the IDX with Panin Sekuritas as the underwriter with the potential to raise IDR 34 billion on September 8, 2020.