In The First Quarter Of 2024, Pefindo Gets A Corporate Bond Mandate Of IDR 53.17 Trillion From 48 Publishers

Illustration of Rupiah (photo: Antara)

JAKARTA - PT Pemeringkat Efek Indonesia (Pefindo) received a corporate debt bond (corporate bonds) mandate of IDR 53.17 trillion during the First Quarter of 2024. The mandate was given by 48 publishers.

In terms of value, the Head of the Economic Research Division of Pefindo Suaputo revealed that the highest banking sector with five companies plans to issue corporate debt securities worth IDR 7.65 trillion.

Then, five mining sector companies with an issuance plan of IDR 5.6 trillion, followed by four construction sector companies with an issuance plan of IDR 4.5 trillion.

Then, there are four multifinance sector companies with an issuance plan of IDR 4.5 trillion, followed by two non-multiple finance sector companies with an issuance plan of IDR 4.0 trillion.

Based on the type of debt securities, the highest bond Sustainable Public Offering (PUB) with a value of IDR 21.67 trillion, followed by bonds worth IDR 19.12 trillion, PUB sukuk worth IDR 8.23 trillion, Medium Term Note (MTN) worth IDR 2.53 trillion, and sukuk IDR 1.59 trillion.

From the incoming mandate, he explained that Pefindo had increased 82.4 percent of all debt securities issued during the January-March 2024 period.

"The purpose of using funds is mostly for working capital of 56.5 percent and refinancing 31.2 percent," said Suadarato quoting Antara.

Based on the institution, private companies (non-BUMN) still dominate with the plan to issue debt securities worth IDR 30.22 trillion, while SOEs and subsidiaries or BUMDs plan to issue IDR 22.95 trillion.

Suaputo explained that the prospect of issuing corporate debt securities in Indonesia tends to be positive this year, driven by various factors.

These various driving factors include maintaining real sector activities, 'wait and see' conditions that tend to decline, and adapting corporate strategies in dealing with higher interest rates for leakers.

In addition, he said, there is a higher need for refinancing in 2024 compared to 2023, financing facilities from banks tend to have a short tenor, as well as the prospect of lowering the benchmark interest rate in the second semester of 2024.