10 JUN - 14 JUN 2013
Country's FCLT Rating
S & P BB+
Moody's Baa3
Fitch
BBB-Key Market Indicator as of 07-Jun-13
BI Rate 5.75%
JCI 4,865
IDR 9,886
Inflation(y-o-y)- May-13 5.47%
Market Outstanding as of 07-Jun-13 Government Bond
Corporate Bond
Previous Week Trading Volume Government Bond
Corporate Bond
Government Bond Indices as of 07-Jun-13
Price Index 139.98
Yield Index 6.26%
Total Return 406.75
Benchmark Yield as of 07-Jun-13
FR0066 (5 year) 5.362%
FR0063 (10 year) 6.211%
FR0064 (15 year) 6.803%
FR0065 (20 year) 7.089%
Calendar of Event
Germany CPI Year on Year (Survey : 1.5%; Prior : 1.5%)
US Initial Jobless Claim (Survey : 345K; Prior : 346K)
Bank Indonesia Refference Interest Rate (Survey : NA; Prior : 5.75%)
Analysts Rifki Rizal 3509888 ext 3404 [email protected] Amir A. Dalimunthe 3509888 ext.3405 [email protected]
Please read important disclosure at the back of this report
IDR 12.3tn IDR 897.99tn IDR 200.20tn IDR 36.61tn 13-Jun-13 13-Jun-13 12-Jun-13
Global Bonds Market Conditions
Yields on 10-year Government bonds have been in an uptrend since mid-April 2013. As of June 10, 2013, the yield on 10-year Government bonds stood at 6.55%, up 108bps from the beginning of the year. Likewise, the yields on 10-year U.S. Treasury and 10-10-year Generic German government bonds have also increased. As of June 10, 2013, the yield on the 10-year UST rose 36bps to 2.22% and the yield on the 10-year Generic German government bond climbed 10bps to 1.55% from a year earlier. Changes in the yield curve (WoW) for the three countries shows a relatively higher increase in the yields on bonds with a tenor of 1 to 5 years. In contrast to bond prices, the stock market indexes of these three countries have exhibited a rising trend. The JCI Index stood at 4,777 as of 10 June 2013, or up 10% from a year earlier, while the DOW JONES and DEX are up 14% and 7% at 15,238 and 8,307, respectively.Yield curve 10-tahun obligasi Pemerintah masih
dalam tren meningkat sejak pertengahan April 2013 dan berada pada 6,55% per tanggal 10 Juni 2013, atau naik sebesar 108bps dari awal tahun. Pola yang sama terjadi pada US Treasury 10-tahun dan Germany generic yield curve 10-10-tahun. UST 10-tahun naik 36bps menjadi 2,22% dan Germany generic yield curve 10-tahun yang naik 10bps dari awal tahun menjadi 1,55%. Perubahan
yield curve (WoW) dari ketiga negara memperlihatkan bahwa terjadi kenaikan yield relatif yang lebih tinggi untuk obligasi bertenor 1 hingga 5-tahun. Berbeda dengan obligasi, indeks stok market ketiga negara memiliki pola kenaikan dari awal tahun. Indeks JCI per tanggal 10 Juni 2013 sebesar 4,777, atau naik 10% dari awal tahun, sedangkan indeks DOW JONES dan DEX naik sebesar 14% dan 7% menjadi 15,238 dan 8,307.
Indonesian IDR Yield Curve 10-Y, UST 10-Y & Germany Generic Yield Curve 10-Y
Source : Bloomberg, Danareksa Estimate, US Treasury
JCI, DOW JONES & DAX Index
500 1,500 2,500 3,500 4,500 5,500 3,000 6,000 9,000 12,000 15,000 Ja n-0 9 Mar -0 9 May-09 Au g-09 Oc t-09 Ja n-1 0 Mar -1 0 May-10 Au g-10 Oc t-10 Ja n-1 1 Mar -1 1 May-11 Au g-11 Oc t-11 Ja n-1 2 Mar -1 2 May-12 Au g-12 Oc t-12 Dec -12 Mar -1 3 May-13
DOW DAX JCI (RHS)
Source : Bloomberg, Danareksa Estimate
5 6 7 8 9 10 11 12 13 14 15 1.0 1.5 2.0 2.5 3.0 3.5 4.0 Ja n-0 9 Mar -0 9 May-09 Au g-09 Oc t-09 Ja n-1 0 Mar -1 0 May-10 Au g-10 Oc t-10 Ja n-1 1 Mar -1 1 May-11 Au g-11 Oc t-11 Ja n-1 2 Mar -1 2 May-12 Au g-12 Oc t-12 Dec -12 Mar -1 3 May-13 (%) (%)
UST10Y German 10Y IDR Government Yield Curve 10-Y (RHS)
0 5 10 15 20 25 30 35 40
1M 3M 6M 1Y 2Y 3Y 5Y 7Y 10Y 20Y 30Y
Bp
s
Tenor
Germany Generic Yield Curve 10-Y UST 10-Y IDR Government Yield Curve 10-Y Yield Change Week on Week
MACROECONOMICS CONDITION
Yield Index CDS 5-Year (bps)
Domestic Bank Increased Their SUN Ownership Rupiah closed at Rp9,886 per USD
Foreign Investors Steadily Reduce Their SUN Holdings
Government bond yields stood at 6.26% at the end of last week, up 27bps from theprevious week’s level of 5.99%. This is the highest level since September 2012. In the year to June 7, 2013, yields are up 80bps. The 5-year CDS for Indonesia also continues to increase and ended last week at 190.67, up 15bps from the previous week’s level. Foreign holdings in SUN have steadily declined. From May 28, 2013 to June 5, 2013, foreign holdings were down IDR 5.67 trillion. Domestic bank holdings in SUN stood at IDR 310.23 trillion as of June 5, 2013, or more than foreign holdings which only reached IDR 300.05 trillion. Rupiah volatility was still high and the local currency unit weakened against the US Dollar. The Rupiah ended the week at Rp9,886/USD compared to Rp9,877/USD the previous week.
Yield obligasi Pemerintah pada akhir minggu lalu berada pada level 6,26%, atau naik
sebesar 27bps dari minggu sebelumnya yang berada pada level 5,99%. Ini merupakan angka tertinggi sejak September 2012, sedangkan perubahan yield dari awal tahun hingga tanggal 7 Juni 2013 sebesar 80bps. Sama seperti yield index, CDS 5-tahun indonesia juga terus meningkat dan menutup akhir minggu lalu pada level 190,67, atau naik 15bps dari minggu sebelumnya. Kepemilikan asing terhadap SUN turun secara perlahan, terhitung sejak tanggal 28 Mei 2013 hingga 5 Juni 2013, kepemilikan asing telah turun sebesar Rp5,67 triliun. Kepemilikan bank domestik terhadap SUN per tanggal 5 Juni 2013 sebesar Rp310,23 triliun, sedangkan kepemilikan asing hanya sebesar Rp300,05 triliun. Rupiah kembali melemah pada akhir minggu lalu pada level Rp9,886 per Dollar AS dengan tingkat volatilitas yang masih tinggi.
Source: Danareksa, Bloomberg Source: Bloomberg
Source: Ministry of Finance Source: Bloomberg
Corporate Bonds Trading by Tenor Corporate Bonds Trading by Rating
Source: IDX Process Data Source: IDX Process Data
75 100 125 150 175 200 10 -J un-13 3-J u n-13 28 -Ma y -1 3 22 -Ma y -1 3 16 -Ma y -1 3 10 -Ma y -1 3 3-May-13 29 -A pr-13 23 -A pr-13 17 -A pr-13 11 -A pr-13 5-A p r-13 1-A p r-13 25 -Ma r-13 19 -Ma r-13 13 -Ma r-13 6-Mar -1 3 28 -F eb-13 22 -F eb-13
Indonesia Philipinnes Brazil Turkey
60 65 70 75 80 85 90 95 100 105 260 270 280 290 300 310 320 330 11 -Ma r-13 15 -Ma r-13 20 -Ma r-13 25 -Ma r-13 28 -Ma r-13 3-A p r-13 8-A p r-13 11 -A pr-13 16 -A pr-13 19 -A pr-13 24 -A pr-13 29 -A pr-13 2-May-13 7-May-13 13 -Ma y -1 3 16 -Ma y -1 3 21 -Ma y -1 3 24 -Ma y -1 3 29 -Ma y -1 3 3-J u n-13 IDR trillion IDR trillion
RR-BI (RHS) BI (RHS) Domestic Bank Foreign Investors
9,600 9,650 9,700 9,750 9,800 9,850 9,900 9,950 10,000 10,050 10,100 10,150 10,200 10 -J un-13 4-J u n-13 30 -Ma y -1 3 27 -Ma y -1 3 22 -Ma y -1 3 17 -Ma y -1 3 14 -Ma y -1 3 8-May-13 3-May-13 30 -A pr-13 25 -A pr-13 22 -A pr-13 17 -A pr-13 12 -A pr-13 9-A p r-13 4-A p r-13 1-A p r-13 26 -Ma r-13 21 -Ma r-13 18 -Ma r-13 0.0 0.2 0.4 0.6 0.8 1.0 1.2 0 1 2 3 4 5 6 7 9 IDR trillion Term to Maturity 5.40% 5.50% 5.60% 5.70% 5.80% 5.90% 6.00% 6.10% 6.20% 6.30% 4.0% 4.5% 5.0% 5.5% 6.0% 11 -Ma r-13 15 -Ma r-13 20 -Ma r-13 25 -Ma r-13 28 -Ma r-13 3-A p r-13 8-A p r-13 11 -A pr-13 16 -A pr-13 19 -A pr-13 24 -A pr-13 29 -A pr-13 2-May-13 7-May-13 13 -Ma y -1 3 16 -Ma y -1 3 21 -Ma y -1 3 24 -Ma y -1 3 29 -Ma y -1 3 3-J u n-13 7-J u n-13 BI Rate Inflation
Inflation Forecast Yield Index (LHS)
AA+ 47% AA 14% A-12% AAA 10% AA-9% A+ 3% A 3% BBB 2% AA+ AA A-AAA AA-A+ A BBB
GOVERNMENT BONDS REVIEW
Yield Curve Comparison Yield Curve Change
Daily Trade Volume Govt Bonds Benchmark Series Yield
Yields on the benchmark series continued to increase. The yields on the FR0064 and FR0065 (the 15-year and 20-year benchmarks) even reached their highest levels since issuance. The yield on FR0064 stood at 6.80% at the end of last week, or up 21bps from the previous week’s level, while the yield on FR0065 reached 7.90%, or up 23bps from last week’s level. Total trading in SUN was down by IDR 3.4 trillion over the week. The decline in trading stemmed from lower trading in the medium and long tenors, while trading in shorter tenors increased. Trading in short tenors increased by IDR 3.5 trillion, while trading in medium and long tenors was down by IDR 5.9 trillion and IDR 1.7 trillion. The Government bonds yield curve shifted up last week for each tenor, with the short tenor government bonds exhibiting a greater shift compared to the other maturities.
Yields on the 15-year & 20-year Benchmarks Reach Their Highest Levels
Yield dari seri benchmark terus meningkat, bahkan FR0064 dan FR0065 (benchmark
15-tahun dan 20-tahun) mencapai yield tertingginya sejak penerbitan perdana. Yield FR0064 akhir minggu lalu berada di level 6,80%, naik 21bps dari minggu lalu, sedangkan FR0065 berada pada level 7,90%, naik 23bps dari minggu lalu. Total volume perdagangan SUN minggu lalu turun sebesar Rp4,1 triliun dari minggu sebelumnya. Penurunan tersebut diakibatkan pada penurunan pada tenor sedang dan panjang, sedangkan untuk tenor pendek mengalami peningkatan. Volume perdagangan untuk tenor pendek naik Rp3,5 triliun, sedangkan untuk tenor sedang dan panjang turun masing-masing sebesar Rp 5,9 triliun dan Rp1,7 triliun. Perubahan
yield curve memperlihatkan bahwa peningkatan yield untuk tenor pendek lebih besar
dari tenor sedang dan panjang.
Source: Bloomberg Source: IDX processed data
Source: US Treasury, Danareksa Estimate Source: Danareksa Estimate
Spread Indon 10 year Over UST 10 year Spread SUN 10 year over Indon 10 year
Source: Bloomberg, Danareksa Estimate
4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 10 -J un-13 20 -Ma y -1 3 29 -A pr-13 9-A p r-13 19 -Ma r-13 26 -F eb-13 6-F e b-1 3 16 -J an-13 21 -D e c-1 2 3-Dec-12 9-Nov-12 19 -Oc t-12 1-Oc t-12 11 -Sep-12 16 -A ug -12 27 -J ul -1 2 9-J u l-12 19 -J un-12 FR0066 - 5Y FR0063 - 10Y FR0064 - 15Y FR0065 - 20Y 0 2 4 6 8 10 12 10 -J un-13 7-J u n-13 5-J u n-13 4-J u n-13 3-J u n-13 31 -Ma y -1 3 30 -Ma y -1 3 29 -Ma y -1 3 28 -Ma y -1 3 27 -Ma y -1 3 IDR trillion
Govt Short Govt Med Govt Long Corp
1.13% 2.22% 2.63% 3.03% 3.36% 2.74% 4.26% 4.85% 5.12% 5.34% 5.60% 6.55% 7.00% 7.21% 7.39% 0% 1% 2% 3% 4% 5% 6% 7% 8% 0 5 10 15 20 25 30 Term to Maturity
UST YC GoI USD Yield Curve GoI IDR Yield Curve
0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Term to Maturity
Source: US Treasury, Bloomberg, Danareksa Estimate
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 4-J u n-12 22 -J un-12 10 -J ul -1 2 28 -J ul -1 2 15 -A ug -12 2-Sep-12 20 -Sep-12 8-Oc t-12 26 -Oc t-12 13 -Nov-12 1-Dec-12 19 -D e c-1 2 6-J a n-13 24 -J an-13 11 -F eb-13 1-Mar -1 3 19 -Ma r-13 6-A p r-13 24 -A pr-13 12 -Ma y -1 3 30 -Ma y -1 3
Currency Risk Premium 10Y INDON 10Y SUN 10Y 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 1.0% 2.0% 3.0% 4.0% 5.0% 4-J u n-12 24 -J un-12 14 -J ul -1 2 3-A u g -1 2 23 -A ug -12 12 -Sep-12 2-Oc t-12 22 -Oc t-12 11 -Nov-12 1-Dec-12 21 -D e c-1 2 10 -J an-13 30 -J an-13 19 -F eb-13 11 -Ma r-13 31 -Ma r-13 20 -A pr-13 10 -Ma y -1 3 30 -Ma y -1 3
99.25 19.00 9,010.62 5.42 96.35 88.00 5,785.01 6.97 95.50 41.00 4,774.05 6.24 92.95 14.00 2,308.93 6.89 111.75 45.00 2,294.09 7.11 101.40 8.00 1,404.73 7.84 98.25 2.00 900.00 4.90 105.70 16.00 830.44 6.16 142.25 15.00 764.43 6.07 99.50 31.00 593.02 6.03 106.00 7.00 540.22 5.35 136.50 14.00 527.71 6.61 91.25 2.00 499.23 7.09 99.96 4.00 478.50 0.04 100.10 18.00 441.35 6.24 126.50 10.00 365.18 6.91 108.00 8.00 346.17 5.28 96.42 2.00 338.39 3.71 103.76 7.00 279.64 5.16 104.28 7.00 246.88 6.53 96.92 1.00 245.00 3.18 107.75 3.00 221.05 5.00 130.00 7.00 180.17 5.73 100.80 3.00 164.58 5.89 99.38 1.00 162.23 0.62 99.67 3.00 155.28 0.33 113.00 6.00 120.20 6.18 96.57 1.00 120.00 3.56 104.70 1.00 115.40 5.03 149.50 1.00 109.00 5.78 130.00 6.00 97.70 5.95 115.75 1.00 87.50 5.51 116.00 2.00 81.20 6.55 106.06 1.00 80.00 4.57 117.01 7.00 73.31 5.33 100.40 7.00 70.10 6.23 128.01 4.00 65.08 6.46 129.25 2.00 58.43 7.08 130.10 4.00 49.34 6.74 137.50 1.00 36.56 6.77 90.43 2.00 30.00 6.93 133.00 2.00 28.14 6.62 126.50 2.00 24.90 6.37 100.15 5.00 23.51 7.94 115.75 1.00 22.80 4.92 100.75 5.00 19.80 8.09 125.25 2.00 18.41 6.11 139.50 2.00 11.68 7.10 127.00 1.00 6.45 5.54 101.65 3.00 4.15 11.26 133.21 1.00 1.85 6.90 90.50 1.00 0.50 6.90
Coupon Yield (%) Modified
Duration
7-Jun-13 FR0066 15-May-18 5.25 4.94
Last Trade Date Bonds Maturity Last
Price
Freq Vol (IDR bn)
7-Jun-13 FR0065 15-May-33 6.63 19.94
7-Jun-13 FR0063 15-May-23 5.63 9.94
7-Jun-13 FR0064 15-May-28 6.13 14.94
7-Jun-13 FR0058 15-Jun-32 8.25 19.02
7-Jun-13 ORI008 15-Oct-14 7.95 1.36
5-Jun-13 VR0020 25-Apr-15 4.81 1.89 7-Jun-13 FR0061 15-May-22 7.00 8.94 7-Jun-13 FR0034 15-Jun-21 12.80 8.02 7-Jun-13 SR005 27-Feb-16 6.00 2.72 7-Jun-13 FR0055 15-Sep-16 7.38 3.27 7-Jun-13 FR0040 15-Sep-25 11.00 12.27 7-Jun-13 FR0062 15-Apr-42 6.38 28.86 7-Jun-13 SPN03130614 14-Jun-13 - 0.02
7-Jun-13 ORI009 15-Oct-15 6.25 2.36
7-Jun-13 FR0054 15-Jul-31 9.50 18.11 7-Jun-13 FR0027 15-Jun-15 9.50 2.02 7-Jun-13 SPN12140314 14-Mar-14 - 0.77 7-Jun-13 FR0060 15-Apr-17 6.25 3.86 7-Jun-13 FR0059 15-May-27 7.00 13.94 4-Jun-13 SPN12140116 16-Jan-14 - 0.62 7-Jun-13 FR0026 15-Oct-14 11.00 1.36 7-Jun-13 FR0036 15-Sep-19 11.50 6.27 7-Jun-13 FR0049 15-Sep-13 9.00 0.27 7-Jun-13 SPN03130807 7-Aug-13 - 0.17 5-Jun-13 SPN03130710 10-Jul-13 - 0.10 7-Jun-13 FR0053 15-Jul-21 8.25 8.11 4-Jun-13 SPN12140217 17-Feb-14 - 0.70 7-Jun-13 FR0020 15-Dec-13 14.28 0.52 7-Jun-13 FR0035 15-Jun-22 12.90 9.02 7-Jun-13 FR0031 15-Nov-20 11.00 7.44 7-Jun-13 FR0048 15-Sep-18 9.00 5.27 7-Jun-13 FR0056 15-Sep-26 8.38 13.27 7-Jun-13 FR0051 15-May-14 11.25 0.94 7-Jun-13 FR0028 15-Jul-17 10.00 4.11 7-Jun-13 SR004 21-Sep-15 6.25 2.29 7-Jun-13 FR0044 15-Sep-24 10.00 11.27 7-Jun-13 FR0057 15-May-41 9.50 27.94 7-Jun-13 FR0047 15-Feb-28 10.00 14.69 7-Jun-13 FR0052 15-Aug-30 10.50 17.19 7-Jun-13 PBS004 15-Feb-37 6.10 23.69 4-Jun-13 FR0042 15-Jul-27 10.25 14.11 7-Jun-13 FR0043 15-Jul-22 10.25 9.11
7-Jun-13 ORI007 15-Aug-13 7.95 0.19
7-Jun-13 FR0030 15-May-16 10.75 2.94
7-Jun-13 SR003 23-Feb-14 8.15 0.71
4-Jun-13 FR0046 15-Jul-23 9.50 10.11
7-Jun-13 FR0050 15-Jul-38 10.50 25.11
7-Jun-13 FR0038 15-Aug-18 11.60 5.19
7-Jun-13 ORI005 15-Sep-13 11.45 0.27
7-Jun-13 FR0045 15-May-37 9.75 23.94
7-Jun-13 PBS001 15-Feb-18 4.50 4.69
APPENDICES
Appendix 1. Government Bonds Trading 3 June - 7 June 2013
100.00 3.00 470.00 7.75 100.00 2.00 325.00 9.90 100.02 2.00 200.00 6.77 101.36 2.00 138.00 5.73 100.00 2.00 130.00 6.15 100.00 2.00 120.00 8.00 100.05 1.00 120.00 7.73 100.23 2.00 120.00 8.79 100.65 3.00 69.00 6.61 100.00 2.00 59.85 6.60 100.00 3.00 56.25 10.64 101.01 3.00 51.00 5.53 100.81 2.00 50.00 4.07 101.07 2.00 50.00 3.79 108.30 1.00 48.00 6.87 99.80 4.00 48.00 8.01 99.35 2.00 44.00 11.60 100.94 1.00 40.00 5.10 101.84 1.00 34.50 7.03 103.64 3.00 25.40 5.74 100.90 3.00 23.80 6.94 105.34 3.00 22.00 7.67 99.85 2.00 22.00 10.54 101.78 2.00 22.00 9.04 101.75 1.00 21.25 7.53 107.75 1.00 20.50 9.07 100.74 1.00 20.00 -100.03 1.00 20.00 7.28 100.55 1.00 20.00 7.36 103.35 4.00 18.00 6.65 103.50 10.00 18.00 7.89 102.60 2.00 17.00 7.94 102.00 2.00 15.34 8.16 100.04 1.00 15.00 7.05 103.50 2.00 15.00 8.75 101.16 2.00 15.00 9.16 102.10 1.00 15.00 9.08 100.00 1.00 14.75 11.65 101.24 1.00 14.00 -11.57 100.00 1.00 13.50 8.00 103.20 1.00 13.00 7.03 101.72 1.00 12.00 -100.33 1.00 11.00 12.96 103.80 2.00 10.00 7.18 100.00 1.00 10.00 6.90 101.62 2.00 10.00 -15.05 100.00 1.00 10.00 10.50 103.28 1.00 9.00 7.78 101.48 2.00 8.00 9.86 111.00 4.00 8.00 7.27 106.80 2.00 8.00 7.19 100.30 2.00 6.00 7.15 99.25 2.00 6.00 8.90 102.45 2.00 6.00 8.15 100.86 1.00 6.00 -102.00 1.00 6.00 8.07 106.64 1.00 5.00 10.34 100.00 1.00 5.00 6.40 100.93 1.00 5.00 6.60 100.00 1.00 5.00 8.75
7-Jun-13 FIFA01BCN2 4-Apr-16 7.75 2.48
Coupon Yield (%) Modified
Duration
Last Trade Date Bonds Maturity Last
Price
Freq Vol (IDR bn)
7-Jun-13 SIAGII02 18-Dec-17 9.90 3.54
7-Jun-13 BEXI01ACN3 2-Jun-14 6.15 0.95
5-Jun-13 BIIF01C 7-Jun-16 8.00 2.60
3-Jun-13 SMFP02ACN2 31-Mar-14 6.80 0.79
7-Jun-13 FIFA01BCN1 20-Apr-14 7.35 0.83
4-Jun-13 ASDF01BCN3 22-Feb-16 7.75 2.42
4-Jun-13 MEDC01CN2 15-Mar-18 8.85 3.79
7-Jun-13 BCAF01BCN1 9-May-14 7.35 0.88
7-Jun-13 TAFS03A 27-May-14 6.60 0.93
7-Jun-13 BIMF01A 14-Jan-14 10.65 0.57
5-Jun-13 FIFA01ACN2 14-Apr-14 6.75 0.82
5-Jun-13 ADMF01ACN3 7-Oct-13 6.50 0.33
5-Jun-13 ASDF01ACN2 22-Oct-13 6.65 0.37
7-Jun-13 SIKMPPA01B 14-Apr-14 17.00 0.78
7-Jun-13 BIIF01B 7-Jun-15 7.90 1.83
7-Jun-13 BCAF01SB 23-Mar-15 11.20 1.57
5-Jun-13 NISP01ACN1 1-Mar-14 6.40 0.72
7-Jun-13 ASDF12C 25-Feb-14 9.70 0.69
5-Jun-13 ADMF05C 27-May-14 9.60 0.93
5-Jun-13 BDMN02A 9-Dec-13 8.75 0.49
7-Jun-13 FAST01 6-Oct-16 9.50 2.81
7-Jun-13 PNBN04SB 9-Nov-17 10.50 3.47
5-Jun-13 BNLI01SBCN2 19-Dec-19 9.40 4.77
7-Jun-13 FIFA11C 26-Apr-14 9.60 0.84
5-Jun-13 BNLI02SB 28-Jun-18 11.00 3.84
5-Jun-13 SMADMF01ACN1 11-Mar-14 6.85
-4-Jun-13 ADMF02BCN1 1-Mar-15 7.30 1.62
5-Jun-13 BNII01ACN1 6-Dec-14 7.75 1.38
4-Jun-13 ISAT05A 29-May-14 10.20 0.93
5-Jun-13 SIISAT05 27-Jun-19 8.63 4.64
7-Jun-13 MYOR04 9-May-19 8.50 4.61
7-Jun-13 MEDC03 19-Jun-17 8.75 3.32
7-Jun-13 SMFP01ACN2 25-Apr-14 7.10 0.84
7-Jun-13 JPFA01CN1 12-Jan-17 9.90 2.97
5-Jun-13 PNBN01SBCN1 20-Dec-19 9.40 4.77
5-Jun-13 TRAC02C 5-Jul-15 10.20 1.83
7-Jun-13 BIMF01B 9-Jan-16 11.65 2.17
5-Jun-13 IMAT01A 29-Jun-13 7.15
-5-Jun-13 ASDF01BCN1 21-Feb-15 8.00 1.58
7-Jun-13 OTMA07D 8-Jun-14 10.37 0.93
5-Jun-13 SMKMYOR02 9-May-17 9.50
-5-Jun-13 JMPD11PXBFTW 10-Oct-13 13.00 0.33
3-Jun-13 PNBN02C 19-Jun-14 11.00 0.96
4-Jun-13 NISP01BCN1 19-Feb-15 6.90 1.59
5-Jun-13 SIKSMRA01 25-Jun-13 14.10
-4-Jun-13 TBLA02 5-Jul-17 10.50 3.23
7-Jun-13 CFIN03C 8-Nov-14 10.25 1.31
7-Jun-13 AISA01 5-Apr-18 10.25 3.72
4-Jun-13 SIKPPLN01 10-Jul-17 10.40 3.33
7-Jun-13 PPLN07 11-Nov-14 12.25 1.30
4-Jun-13 ADMF01BCN2 4-May-14 7.50 0.87
5-Jun-13 SANF02C 20-Jan-15 8.40 1.49
5-Jun-13 DNRK01BCN1 9-Jan-18 8.80 3.71
5-Jun-13 SMADMF01CCN1 1-Mar-16 7.85
-5-Jun-13 IMFI04B 9-Jun-14 10.15 0.93
5-Jun-13 BBTN12 19-Sep-16 12.75 2.62
3-Jun-13 BEXI01BCN3 23-May-16 6.40 2.68
5-Jun-13 ADMF04D 29-Oct-13 9.00 0.39
5-Jun-13 ADMF01CCN3 27-Sep-17 8.75 3.50
APPENDICES
Appendix 2. Corporate Bonds Trading 3 June - 7 June 2013
Debt Research (62 21) 350 9888
Fax No. (62 21) 350 1709
Head of Debt Research Yudistira Slamet [email protected]
Credit Analysts Market Analyst
Amir A. Dalimunthe Rifki Rizal
[email protected] [email protected]
Ayesha Ardelia Production & Database Management
[email protected] Eka Nuraini
Debt Capital Market Div. (62 21) 350 9888
Fax No. (62 21) 350 1724 / 25
Head of Debt Capital Market Budi Susanto
Debt Sales & Brokerage Debt Trading & Investment
Rina Rimawati D Romi Mulyadi
[email protected] [email protected]
Agung Suprihanto Product & Retail
[email protected] Setyo H. Purnomo
[email protected] Putrika Mayadipta
[email protected] Ariningtyas W. Agustina [email protected] Hernita Dwi Ariesandhy [email protected]
ext. 3407 ext. 3404 ext. 3400
ext. 3405
Debt Capital Market Division RESEARCH TEAM ext. 3406 ext. 3215 ext. 3224 DISCLAIMER ext. 3200 (62 21) 3501088 ext. 3223 ext. 3213 ext. 3212 ext. 3226 ext. 3216
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