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Three Indonesia’s SOEs to issue Komodo bonds this year
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State-owned Enterprises Minister Rini Soemarno (center), PT Jasa Marga executives and officials of the London Stock Exchange pose after Jasa Marga listed its Komodo bonds on the bourse on Dec. 13, 2017. (Courtesy of/State-owned Enterprises Ministry)
T
hree state-owned enterprises (SOEs) are set to issue Komodo bonds this year, following state-owned toll road operator PT Jasa Marga’s move of issuing rupiah-denominated bonds at the London Stock Exchange (LSE), according to State-owned Enterprises Minister Rini Soemarno.
She added that the companies were currently calculating the funds they expected to collect from the issuance, tempo.co reported on Monday.
However, she declined to mention the names of the companies.
Jasa Marga had issued Komodo bonds in the LSE in an effort to collect Rp 4 trillion (US$280 million). The bonds were three-year term debt papers without any guarantee from the government.
State-owned construction firm PT Wijaya Karta (Wika) has also announced plans to issue rupiah-denominated bonds worth $400 million, which has yet to be carried out. Wika’s bonds were given a domestic AA rating and an international BB rating with a stable outlook by Fitch Ratings.
Financial Service Authority (OJK) head Wimboh Santoso praised PT Jasa Marga’s move to issue Komodo bonds at the LSE as it would pave the way for other Indonesian companies to do the same.
He added that many foreign investors had shown interest in buying the rupiah bonds because their investments would not be affected by the risks of a possible decline in the currency. (bbn)
