Exhibit 1. Indonesia & US 10Y Yield Curve Dec Jan Feb Mar-17. Source: Bloomberg;

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Analysts Rifki Rizal (62 21) 29 555 777 ext. 3404 rifkir@danareksa.com Amir A. Dalimunthe (62 21) 29 555 777 ext. 3405 amirda@danareksa.com

Please read important disclosure at the back of this report

25 JUL 2017

A Slight Gain in a Quiet Week

Indonesia’s Sovereign Rating

S & P

BBB-Moody’s Baa3

Fitch

BBB-Key Market Indicator as of 24-Jul-17

BI 7-Day RR Rate 4.75% JCI 5,802

IDR 13.309

Inflation (y-o-y)-June-17 4.37% Domestic Bonds Outstanding

Gov’t Bonds as of 21-Jul-17 IDR 1,954.8 bn Corp Bonds as of 30-Jun-17 IDR 343.3 bn

Previous Week Trading Volume

Government Bonds IDR 64.19 tn Corporate Bonds IDR 4.42 tn

Benchmark Yield as of 24-Jul-17

FR0061 (5 year) 6.721% FR0059 (10 year) 6.905% FR0074 (15 year) 7.302% FR0072 (20 year) 7.539% Source : Bloomberg, Mid YTM

Government Bond Indices as of 24-Jul-17

Price Index (Bloomberg : DGBIIDPR) 131.64 Yield Index (Bloomberg : DGBIIDYD) 6.92% TR Index (Bloomberg : DGBIIDTR) 536.26

Calendar of Event

26-Jul-17

UK GDP Chained GDP at Market Prices YoY (Survey : 1.7% Prior : 2.0%)

27-Jul-17

US Initial Jobless Claims SA (Survey : 240k; Prior : 233k) 27-Jul-17

Japan Unemployment Rate SA (Survey :3.0%; Prior : 3.1%)

www.danareksa.com Bloomberg Ticker: DFMJ

Danareksa Government Bonds Yield Index

menduduki level 6,92% pada pekan lalu setelah menyentuh angka 7,11% pada 11 Juli 2017, level tertinggi selama hampir 2 bulan terakhir. Yield mengalami penurunan 7bps selama minggu lalu, menghasilkan weekly return sebesar 0,6%. Per 21 juli 2017, obligasi pemerintah mencatatkan return sebesar 9,52% ytd, jauh lebih rendah dibandingkan

ytd return periode yang sama pada tahun 2016

yang sebesar 16,56%. Berdasarkan perubahan pada yield curve, penurunan didominasi oleh tenor jangka menengah (5 – 15 tahun) dengan rata-rata penurunan sebesar 7,7bps selama minggu lalu. Selain Indonesia, obligasi Pemerintah Amerika dan Jerman juga mencatatkan gain pada minggu lalu. Yield curve 10Y US Treasury mengalami penurunan sebesar 9bps dari 2,33% menjadi 2,24%, sementara 10Y German Bund yield curve mengalami penurunan dari 0,578% menjadi 0,505%, atau turun sebesar 7bps. Di Eurozone, ECB kemungkinan akan menunggu hingga Oktober sebelum melakukan perubahan kebijakan, memberikan investor waktu untuk menentukan strategi dalam menghadapi kebijakan EBC. The Danareksa Government Bonds Yield Index

ended last week at a level of 6.92% after it had reached 7.11% on 11 July 2017, its highest level in almost the last 2 months. The yield slipped 7bps over the week, generating a weekly return of 0.6%. As of 21 July 2017, the YTD total return of government bonds stood at 9.52%, yet far lower than the YTD total return recorded during the same period in 2016 of 16.56%. Based on changes in the yield curve, the decline was dominated by mid tenors (5 to 15 yrs) with an average decline of 7.7bps over the last week.

Besides Indonesia, Government bonds in both the US and Germany also recorded gains last week. The 10Y US Treasury yield curve dropped by 9bps from 2.33% to 2.24% while the 10Y German Bund yield curve declined from 0.578% to 0.505%, or down 7bps. In the Eurozone, the ECB may wait until October before making a policy change, giving investors additional time to weigh up their response to ECB policy making.

Kembalinya demand

Minat investor global terhadap obligasi Pemerintah Indonesia kembali meningkat pada minggu lalu. Investor asing mencatatkan net buy terhadap obligasi berdenominasi rupiah sebesar Rp9,69 triliun setelah mencatatkan net sellers sebesar Rp8,61 triliun sovereign debts pada dua minggu sebelumnya. Sedangkan nilai tukar IDR terhadap USD mengalami penguatan sebesar 0,19% menjadi Rp13.313 per USD dalam periode yang sama. Per 21 Juli 2017, pemegang asing obligasi Pemerintah adalah sebesar Rp771,6 triliun (39,5% dari total outstanding), atau mengalami peningkatan sebesar Rp110,3 triliun dari posisi akhir tahun 2016.

Getting back on track

Demand from global investors for Indonesian government bonds found a new lease of life last week. Foreign investors recorded net buying of rupiah denominated bonds to the tune of IDR9.69 trillion after they were net sellers of IDR8.61 trillion of sovereign debts in the previous two weeks. On the currency front, the USD/IDR strengthened by 0.19% to IDR13,313 per USD in the same period. As of 21 July 2017, foreign holdings of government bonds stood at IDR771.6 trillion (39.5% of the total outstanding), or up by IDR110.3 trillion from its position at the end of 2016.

Exhibit 1. Indonesia & US 10Y Yield Curve

Source: Bloomberg; www.treasury.gov

6.60 6.80 7.00 7.20 7.40 7.60 7.80 8.00 8.20 2.10 2.20 2.30 2.40 2.50 2.60 2.70 30-De c-16 6-Ja n-17 13-Ja n-17 20-Ja n-17 27-Ja n-17 3-Fe b-17 10-Fe b-17 17-Fe b-17 24-Fe b-17 3-M ar -17 10-M ar -17 17-M ar -17 24-M ar -17 31-M ar -17 7-Ap r-17 14-Ap r-17 21-Ap r-17 28-Ap r-17 5-M ay -17 12-M ay -17 19-M ay -17 26-M ay -17 2- Jun-17 9- Jun-17 16-Ju n-17 23-Ju n-17 30-Ju n-17 7-Ju l-17 14-Ju l-17 21-Ju l-17

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Aktivitas pasar sekunder obligasi di Indonesia melemah selama minggu lalu. Total perdagangan obligasi Pemerintah mencapai Rp64,2 triliun dalam seminggu, atau turun Rp14,6 triliun dibandingkan perdagangan minggu sebelumnya. Sementara itu, total perdagangan obligasi korporasi tercatat sebesar Rp4,4 triliun. Perdagangan obligasi korporasi tersebut didominasi obligasi korporasi dengan peringkat AAA atau sebesar 33,4% dari total.

Secondary market activity in the Indonesian bonds market weakened last week. The total trading in gov’t bonds reached IDR64.2 trillion during the week, or down by IDR14.6 trillion compared to trading in the previous week. Meanwhile, the total trading in corporate bonds stood at IDR4.4 trillion. It was dominated by trading in AAA-rated corporate bonds which accounted for 33.4% of the total trading.

Exhibit 2. Foreign Holdings on IDR Govt Bonds

Source: Danareksa Estimates

36.5% 37.0% 37.5% 38.0% 38.5% 39.0% 39.5% 40.0% 660 680 700 720 740 760 780 30-De c-16 6-Ja n-17 13-Ja n-17 20-Ja n-17 27-Ja n-17 3-Fe b-17 10-Fe b-17 17-Fe b-17 24-Fe b-17 3-M ar -17 10-M ar -17 17-M ar -17 24-M ar -17 31-M ar -17 7-Ap r-17 14-Ap r-17 21-Ap r-17 28-Ap r-17 5-M ay -17 12-M ay -17 19-M ay -17 26-M ay -17 2- Jun-17 9- Jun-17 16-Ju n-17 23-Ju n-17 30-Ju n-17 7-Ju l-17 14-Ju l-17 21-Ju l-17 Proportion (%) Foreign Ownership (IDRtn)

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3

APPENDICES

Appendix 1. Government Bonds Trading 17 - 21 July 2017

Last Trade Bonds Maturity Coupon Tenor Last Freq Vol Yield Tenor Modified

Data Done (IDR bn) Class Duration

Price

21-Jul-17 SPN12170804 4-Aug-17 - 21-Jul-17 SPNS08082017 8-Aug-17 - 21-Jul-17 SPN03170811 11-Aug-17 - 21-Jul-17 SPN03170907 7-Sep-17 - 21-Jul-17 SPNS05102017 5-Oct-17 - 18-Jul-17 SPN12171012 12-Oct-17 - 21-Jul-17 ORI011 15-Oct-17 8.50 18-Jul-17 SPNS03112017 3-Nov-17 - 20-Jul-17 SPN12180104 4-Jan-18 - 21-Jul-17 PBS009 25-Jan-18 7.75 21-Jul-17 SPN12180201 1-Feb-18 - 17-Jul-17 SPN12180301 1-Mar-18 - 21-Jul-17 SR007 11-Mar-18 8.25 21-Jul-17 SPN12180412 12-Apr-18 - 19-Jul-17 SPN12180511 11-May-18 - 21-Jul-17 FR0066 15-May-18 5.25 19-Jul-17 SPN12180607 7-Jun-18 - 19-Jul-17 SPN12180712 12-Jul-18 - 19-Jul-17 FR0038 15-Aug-18 11.60 21-Jul-17 FR0048 15-Sep-18 9.00 21-Jul-17 ORI012 15-Oct-18 9.00 21-Jul-17 SR008 10-Mar-19 8.30 21-Jul-17 FR0069 15-Apr-19 7.88 21-Jul-17 PBS013 15-May-19 6.25 19-Jul-17 FR0036 15-Sep-19 11.50 21-Jul-17 ORI013 15-Oct-19 6.60 21-Jul-17 SR009 10-Mar-20 6.90 18-Jul-17 VR0031 25-Jul-20 4.81 17-Jul-17 PBS006 15-Sep-20 8.25 21-Jul-17 FR0031 15-Nov-20 11.00 20-Jul-17 PBS014 15-May-21 6.50 21-Jul-17 FR0034 15-Jun-21 5.19 21-Jul-17 FR0053 15-Jul-21 8.25 21-Jul-17 FR0061 15-May-22 7.00 21-Jul-17 FR0035 15-Jun-22 12.90 21-Jul-17 FR0043 15-Jul-22 10.25 21-Jul-17 FR0063 15-May-23 5.63 21-Jul-17 FR0046 15-Jul-23 9.50 21-Jul-17 PBS011 15-Aug-23 8.75 21-Jul-17 FR0070 15-Mar-24 8.38 17-Jul-17 FR0044 15-Sep-24 10.00 21-Jul-17 FR0040 15-Sep-25 11.00 21-Jul-17 FR0056 15-Sep-26 8.38 20-Jul-17 PBS003 15-Jan-27 6.00 21-Jul-17 FR0059 15-May-27 7.00 0.03 99.87 1.00 141.63 0.13 < 1yr - 0.04 99.81 1.00 1,076.83 0.19 < 1yr - 0.04 99.77 1.00 200.00 0.23 < 1yr - 0.12 99.44 2.00 1,538.68 0.57 < 1yr - 0.19 98.98 1.00 200.00 1.03 < 1yr - 0.21 98.88 4.00 600.00 1.13 < 1yr - 0.22 100.60 7.00 261.63 8.45 < 1yr - 0.27 98.48 1.00 190.00 1.54 < 1yr - 0.44 97.59 1.00 281.44 2.47 < 1yr - 0.50 101.00 1.00 797.00 5.73 < 1yr 0.48 0.52 97.30 5.00 872.43 2.77 < 1yr - 0.60 96.58 2.00 320.00 3.54 < 1yr - 0.63 101.00 8.00 1,187.58 8.17 < 1yr - 0.71 96.22 1.00 40.00 3.93 < 1yr - 0.79 95.72 3.00 247.20 4.47 < 1yr - 0.81 99.60 2.00 504.88 5.75 < 1yr 0.78 0.87 95.23 1.00 109.29 5.01 < 1yr - 0.96 94.53 1.00 100.00 5.79 < 1yr - 1.06 105.50 6.00 244.60 6.22 1yr - 5yr 0.97 1.14 106.65 3.00 176.18 3.07 1yr - 5yr 1.07 1.22 103.40 33.00 1,429.87 8.70 1yr - 5yr - 1.63 102.30 29.00 408.76 8.11 1yr - 5yr - 1.72 102.45 11.00 1,574.84 6.35 1yr - 5yr 1.58 1.81 99.08 5.00 3,353.60 6.79 1yr - 5yr 1.67 2.14 109.89 1.00 70.00 6.50 1yr - 5yr 1.86 2.22 100.20 64.00 438.69 6.59 1yr - 5yr - 2.63 99.50 38.00 84.59 6.93 1yr - 5yr - 3.00 96.97 1.00 100.00 4.96 1yr - 5yr 2.76 3.14 103.95 1.00 1.00 6.83 1yr - 5yr 2.69 3.31 112.47 5.00 150.20 6.74 1yr - 5yr 2.76 3.81 98.40 6.00 894.28 6.98 1yr - 5yr 3.29 3.89 120.30 2.00 206.41 6.79 1yr - 5yr 3.44 3.97 106.75 17.00 2,806.88 6.31 1yr - 5yr 3.38 4.81 101.20 45.00 4,004.20 6.70 1yr - 5yr 3.99 4.89 125.35 1.00 15.00 6.74 1yr - 5yr 3.75 4.97 114.35 2.00 162.74 6.81 1yr - 5yr 3.96 5.81 94.40 1.00 1,826.76 6.80 5yr - 10yr 4.80 5.97 112.75 1.00 50.48 6.87 5yr - 10yr 4.62 6.06 107.65 2.00 534.89 7.17 5yr - 10yr 4.56 6.64 107.80 13.00 4,461.01 6.89 5yr - 10yr 4.98 7.14 116.00 2.00 25.30 7.11 5yr - 10yr 5.10 8.14 124.50 2.00 106.68 7.00 5yr - 10yr 5.51 9.14 108.55 46.00 3,705.93 7.09 5yr - 10yr 6.29 9.47 91.80 4.00 44.45 7.21 5yr - 10yr 7.00 9.81 100.54 76.00 5,159.53 6.92 5yr - 10yr 6.94

Sources: Danareksa Estimates, BEI

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Appendix 2. Government Bonds Trading 17 - 21 July 2017 (cont’d)

Last Trade Bonds Maturity Coupon Tenor Last Freq Vol Yield Tenor Modified

Data Done (IDR bn) Class Duration

Price

21-Jul-17 FR0042 15-Jul-27 10.25 9.97 121.70 1.00 8.30 7.17 5yr - 10yr 6.58 21-Jul-17 FR0047 15-Feb-28 10.00 10.56 120.50 2.00 13.27 7.20 > 10yr 6.64 21-Jul-17 FR0064 15-May-28 6.13 10.81 92.50 9.00 1,121.68 7.13 > 10yr 7.58 21-Jul-17 FR0071 15-Mar-29 9.00 11.64 113.90 1.00 1,095.54 7.21 > 10yr 7.27 21-Jul-17 FR0052 15-Aug-30 10.50 13.06 125.50 3.00 1,748.85 7.42 > 10yr 7.46 21-Jul-17 FR0073 15-May-31 8.75 13.81 112.10 9.00 1,132.84 7.34 > 10yr 8.18 21-Jul-17 FR0054 15-Jul-31 9.50 13.97 117.50 4.00 1,487.34 7.46 > 10yr 8.17 21-Jul-17 PBS012 15-Nov-31 8.88 14.31 108.90 12.00 675.61 7.83 > 10yr 8.19 21-Jul-17 FR0058 15-Jun-32 8.25 14.89 104.25 15.00 220.00 7.76 > 10yr 8.57 21-Jul-17 FR0074 15-Aug-32 7.50 15.06 102.10 198.00 4,950.27 7.27 > 10yr 8.73 21-Jul-17 FR0065 15-May-33 6.63 15.81 93.50 19.00 145.83 7.32 > 10yr 9.36 21-Jul-17 FR0068 15-Mar-34 8.38 16.64 107.35 85.00 2,097.34 7.59 > 10yr 8.94 21-Jul-17 FR0072 15-May-36 8.25 18.81 104.54 246.00 8,064.11 7.78 > 10yr 9.55 21-Jul-17 PBS004 15-Feb-37 6.10 19.56 80.50 1.00 5.00 8.10 > 10yr 10.00 21-Jul-17 FR0050 15-Jul-38 10.50 20.97 126.50 1.00 1.37 7.89 > 10yr 9.64 21-Jul-17 FR0057 15-May-41 9.50 23.81 115.25 3.00 202.44 8.05 > 10yr 10.08 20-Jul-17 FR0062 15-Apr-42 6.38 24.72 83.50 5.00 9.55 7.90 > 10yr 11.02 20-Jul-17 PBS005 15-Apr-43 6.75 25.72 86.52 6.00 312.50 7.99 > 10yr 10.96 21-Jul-17 FR0067 15-Feb-44 8.75 26.56 111.00 3.00 195.06 7.76 > 10yr 10.60

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5

APPENDICES

Appendix 3. Corporate Bonds Trading 17 - 21 July 2017

Last Trade Bonds Maturity Coupon Tenor Rating Last Freq Vol Yield Modified

Data Done (IDR bn) Duration

Price

20-Jul-17 SIISAT01ACN4 12-Sep-17 7.50 0.13 idAAA 100.17 2.00 19.00 7.49 0.14 20-Jul-17 FIFA02ACN4 7-Oct-17 7.25 0.20 idAAA 100.30 3.00 10.00 7.23 0.21 20-Jul-17 TELE01ACN2 24-Oct-17 9.15 0.25 idA 100.27 2.00 7.60 9.13 0.25 21-Jul-17 ASDF03ACN2 28-Oct-17 7.25 0.26 idAAA 100.20 1.00 33.00 7.24 0.26 19-Jul-17 ASDF02BCN4 29-Oct-17 10.50 0.26 idAAA 101.23 1.00 5.00 10.37 0.26 20-Jul-17 BNGA01BCN1 30-Oct-17 7.75 0.26 idAAA 100.43 1.00 115.85 7.72 0.27 18-Jul-17 SSIA01B 6-Nov-17 9.30 0.28 idA 100.53 6.00 18.00 9.25 0.29 21-Jul-17 PNBN04SB 9-Nov-17 10.50 0.29 idAA- 101.08 1.00 0.40 10.39 0.29 20-Jul-17 BBRI02ACN1 6-Dec-17 7.25 0.36 idAAA 100.38 1.00 25.00 7.22 0.37 17-Jul-17 SIISAT01ACN1 12-Dec-17 10.00 0.38 idAAA 100.02 2.00 1.00 10.00 0.39 21-Jul-17 SIAGII02 18-Dec-17 9.90 0.40 A-(idn) 100.72 3.00 51.00 9.83 0.39 21-Jul-17 NISP01CCN2 10-Feb-18 9.80 0.54 idAAA 101.76 2.00 17.00 9.63 0.52 20-Jul-17 MEDC01CN2 15-Mar-18 8.50 0.64 idAA- 100.39 2.00 9.10 8.47 0.62 18-Jul-17 ADHISM1CN2 15-Mar-18 8.10 0.64 idA 99.72 2.00 4.00 8.12 0.63 19-Jul-17 WOMF01BCN3 2-Apr-18 10.25 0.69 AA(idn) 100.02 2.00 1.00 10.25 0.67 20-Jul-17 SIAISA01 5-Apr-18 10.25 0.69 idA- 101.21 2.00 8.00 10.13 0.67 21-Jul-17 SANF02ACN2 10-Apr-18 8.00 0.71 AA(idn) 100.80 1.00 7.00 7.94 0.69 19-Jul-17 IMFI01CCN4 22-Apr-18 11.40 0.74 idA 102.85 1.00 49.00 11.08 0.70 19-Jul-17 FIFA02BCN1 24-Apr-18 9.25 0.75 idAAA 101.52 2.00 8.00 9.11 0.71 18-Jul-17 PPGD02BCN3 7-May-18 9.25 0.78 idAA+ 101.92 2.00 9.00 9.08 0.75 21-Jul-17 ISAT01BCN2 4-Jun-18 9.25 0.86 idAAA 108.05 1.00 4.00 8.56 0.82 21-Jul-17 SIISAT02ACN1 10-Jun-18 7.00 0.88 idAAA 100.09 1.00 2.00 6.99 0.85 19-Jul-17 TAFS01BCN2 11-Jun-18 9.25 0.88 idAA+ 100.52 2.00 23.00 9.20 0.84 20-Jul-17 LTLS01CN1 19-Jun-18 9.75 0.90 idA- 99.82 2.00 16.00 9.77 0.86 20-Jul-17 APLN01CN1 27-Jun-18 9.25 0.92 idA 100.25 6.00 110.00 9.23 0.88 21-Jul-17 BNLI02SB 28-Jun-18 11.00 0.93 idAA+ 103.25 1.00 15.00 10.65 0.87 17-Jul-17 ADMF03ACN1 30-Jun-18 9.50 0.93 idAAA 102.08 1.00 40.00 9.31 0.90 19-Jul-17 TELE01ACN3 2-Jul-18 9.00 0.94 idA 100.02 2.00 10.00 9.00 0.90 21-Jul-17 PPNX01 5-Jul-18 8.90 0.94 idA 100.07 2.00 76.00 8.89 0.90 20-Jul-17 MDLN01ACN1 7-Jul-18 12.00 0.95 idA 102.93 2.00 50.30 11.66 0.90 21-Jul-17 PANR01CN1 9-Jul-18 11.50 0.96 idA- 102.30 3.00 50.00 11.24 0.90 20-Jul-17 PPGD10BXBVTW 11-Jul-18 10.50 0.96 idAA+ 103.15 3.00 3.70 10.18 0.91 21-Jul-17 CSUL01A 21-Jul-18 9.75 0.99 idA 100.04 2.00 60.00 9.75 0.94 21-Jul-17 ADMF03ACN6 24-Jul-18 7.10 1.00 idAAA 100.00 4.00 48.00 7.10 0.95 18-Jul-17 ADMF03BCN2 25-Aug-18 9.50 1.08 idAAA 102.16 2.00 37.00 7.44 1.03 21-Jul-17 FIFA02BCN2 11-Sep-18 9.25 1.13 idAAA 102.18 1.00 16.00 7.24 1.07 21-Jul-17 ADMF02CCN2 24-Oct-18 11.00 1.25 idAAA 104.03 1.00 54.00 7.61 1.14 17-Jul-17 SIEXCL01BCN1 2-Dec-18 10.25 1.35 idAAA 101.02 2.00 1.00 9.45 1.26 21-Jul-17 SISMRA01CN1 11-Dec-18 10.85 1.38 idA+ 102.40 2.00 2.00 8.99 1.27 20-Jul-17 SMRA01CN1 11-Dec-18 10.85 1.38 idA+ 102.20 3.00 15.70 9.15 1.27 19-Jul-17 TUFI02ACN1 18-Dec-18 10.20 1.40 idAA 101.02 2.00 1.00 9.42 1.29 21-Jul-17 BEXI01CCN1 20-Dec-18 8.50 1.40 idAAA 100.93 1.00 10.00 7.80 1.31 21-Jul-17 BBRI01BCN2 4-Feb-19 9.25 1.53 idAAA 102.68 1.00 4.00 7.39 1.40 21-Jul-17 BBKP01SBCN1 6-Mar-19 9.25 1.61 idA 101.20 5.00 8.00 8.45 1.48 21-Jul-17 IMFI02BCN3 16-Mar-19 10.50 1.64 idA 102.60 6.00 190.00 8.79 1.49 19-Jul-17 BBRI01BCN3 25-May-19 8.20 1.83 idAAA 100.02 2.00 6.00 8.19 1.68 19-Jul-17 PIGN01A 21-Jun-19 8.25 1.91 idAA 100.02 2.00 2.00 8.24 1.75 20-Jul-17 ISAT08A 27-Jun-19 8.63 1.92 idAAA 98.00 2.00 0.20 9.77 1.75 21-Jul-17 BVIC02SB 27-Jun-19 11.00 1.92 idA- 100.00 3.00 33.00 11.00 1.71

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Appendix 4. Corporate Bonds Trading 17 - 21 July 2017 (cont’d)

Price

19-Jul-17 IIFF01A 19-Jul-19 8.25 1.98 idAAA 101.01 1.00 40.00 7.70 1.83 17-Jul-17 FIFA02BCN4 27-Sep-19 7.95 2.17 idAAA 100.50 2.00 20.00 7.70 1.99 17-Jul-17 ASDF03BCN2 18-Oct-19 7.95 2.23 idAAA 100.50 2.00 40.00 7.71 2.01 17-Jul-17 BIIF01ACN3 3-Nov-19 8.30 2.27 AA+(idn) 99.02 2.00 1.00 8.77 2.03 19-Jul-17 PNMP01ACN2 3-Nov-19 9.00 2.27 idA 100.00 3.00 4.00 9.00 2.01 19-Jul-17 IMFI02CCN2 16-Nov-19 11.00 2.31 idA 103.80 1.00 50.00 9.16 2.01 21-Jul-17 PRTL01ACN1 23-Nov-19 7.90 2.33 AA-(idn) 100.57 1.00 100.00 7.63 2.09 21-Jul-17 JPFA02ACN1 1-Dec-19 9.25 2.35 idA+ 100.04 1.00 16.00 9.23 2.07 20-Jul-17 IMPC01A 2-Dec-19 10.00 2.35 idA- 100.05 2.00 170.00 9.97 2.06 17-Jul-17 PNBN01SBCN1 20-Dec-19 9.40 2.40 idAA- 97.50 7.00 2.40 10.58 2.12 18-Jul-17 TAFS02BCN2 14-Feb-20 8.50 2.55 idAA+ 101.50 1.00 10.00 7.85 2.26 21-Jul-17 BEXI03BCN4 23-Feb-20 8.40 2.58 idAAA 102.50 5.00 159.10 7.33 2.29 19-Jul-17 ADHI01BCN2 15-Mar-20 8.50 2.64 idA 100.00 2.00 10.00 8.50 2.34 17-Jul-17 IMFI02CCN3 16-Mar-20 10.65 2.64 idA 103.25 1.00 10.00 9.26 2.29 19-Jul-17 MEDC02ACN4 30-Mar-20 10.80 2.68 idAA- 101.77 2.00 4.00 10.04 2.31 21-Jul-17 TBIG02CN2 21-Apr-20 8.75 2.74 AA-(idn) 100.06 1.00 50.00 8.73 2.42 21-Jul-17 SIEXCL01BCN2 28-Apr-20 8.40 2.76 idAAA 101.10 11.00 75.00 7.95 2.41 21-Jul-17 AMRT02CN1 23-May-20 8.50 2.83 AA-(idn) 100.05 2.00 35.00 8.48 2.47 17-Jul-17 ISAT01CCN2 4-Jun-20 10.00 2.86 idAAA 105.10 1.00 30.00 8.00 2.47 21-Jul-17 SIAGII01ACN1 6-Jun-20 9.90 2.86 A-(idn) 100.06 2.00 2.00 9.87 2.45 19-Jul-17 TELE01BCN3 22-Jun-20 10.50 2.91 idA 100.02 2.00 10.00 10.49 2.47 21-Jul-17 BVIC03SB 27-Jun-20 10.50 2.92 idBBB+ 100.00 2.00 8.00 10.50 2.48 20-Jul-17 BBRI01CCN1 3-Jul-20 9.50 2.94 idAAA 104.80 3.00 2.88 7.67 2.56 21-Jul-17 IMFI03BCN1 7-Jul-20 8.60 2.95 idA 100.25 1.00 20.00 8.50 2.58 20-Jul-17 PPGD02DCN1 9-Jul-20 8.00 2.96 idAA+ 100.30 4.00 20.00 7.88 2.62 19-Jul-17 BMTP01A 11-Jul-20 8.50 2.96 AAA(idn) 100.05 5.00 375.00 8.48 2.60 21-Jul-17 PNMP02ACN1 12-Jul-20 8.75 2.96 idA 100.04 6.00 281.00 8.73 2.59 21-Jul-17 PIHC01ACN1 12-Jul-20 7.90 2.96 AAA(idn) 100.02 4.00 325.00 7.89 2.62 19-Jul-17 SMRA02CN1 16-Dec-20 11.25 3.39 idA+ 100.02 2.00 1.00 11.24 2.77 21-Jul-17 BNGA02SB 23-Dec-20 10.85 3.41 AA(idn) 100.00 1.00 51.00 10.85 2.80 20-Jul-17 BBRI01CCN2 4-Feb-21 9.60 3.53 idAAA 100.00 2.00 40.00 9.60 2.91 19-Jul-17 BEXI02CCN7 19-Feb-21 9.60 3.57 idAAA 105.50 1.00 5.00 7.82 2.99 19-Jul-17 BBRI01CCN3 25-May-21 8.70 3.83 idAAA 100.02 2.00 2.00 8.69 3.20 19-Jul-17 APIA01A 30-Jun-21 8.60 3.93 idAAA 100.02 2.00 10.00 8.59 3.30 19-Jul-17 BEXI03CCN2 25-Aug-21 8.35 4.08 idAAA 102.30 3.00 3.45 7.69 3.41 18-Jul-17 BBTN02BCN2 30-Aug-21 8.75 4.10 idAA 101.55 3.00 30.00 8.30 3.40 20-Jul-17 SSIA01BCN1 22-Sep-21 10.50 4.16 idA 100.05 2.00 50.00 10.48 3.32 19-Jul-17 BMRI01ACN1 30-Sep-21 7.95 4.18 idAAA 100.02 2.00 2.00 7.94 3.53 20-Jul-17 TELE01CCN2 14-Oct-21 10.65 4.22 idA 96.25 2.00 4.00 11.79 3.34 19-Jul-17 BBRI02CCN1 1-Dec-21 8.20 4.35 idAAA 100.40 4.00 4.00 8.09 3.60 20-Jul-17 IMPC01B 2-Dec-21 10.50 4.35 idA- 100.05 2.00 182.00 10.48 3.42 21-Jul-17 ISAT01CCN1 12-Dec-21 10.50 4.38 idAAA 105.80 6.00 12.00 8.89 3.49 18-Jul-17 ASDF03CCN3 3-Mar-22 8.75 4.61 idAAA 102.90 1.00 7.00 7.99 3.75 21-Jul-17 INDF08 26-May-22 8.70 4.84 idAA+ 101.60 7.00 48.00 8.29 3.88 18-Jul-17 OTMA01C 30-May-22 8.90 4.85 idAA 99.95 2.00 10.00 8.91 3.87 21-Jul-17 ISAT01DCN2 4-Jun-22 10.25 4.86 idAAA 108.02 5.00 20.00 8.23 3.81 21-Jul-17 BBTN01CN1 5-Jun-22 7.90 4.86 idAA 96.98 1.00 1.00 8.66 3.95 21-Jul-17 SIAGII01BCN1 6-Jun-22 10.35 4.86 A-(idn) 100.07 2.00 29.00 10.33 3.74 21-Jul-17 SMGR01CN1 20-Jun-22 8.60 4.90 idAA+ 101.35 4.00 24.00 8.26 3.96 21-Jul-17 BBKP02SBCN1 30-Jun-22 12.00 4.93 idA 107.50 5.00 20.00 10.05 3.73

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APPENDICES

Appendix 5. Corporate Bonds Trading 17 - 21 July 2017 (cont’d)

Price

21-Jul-17 BLAM04 7-Jul-22 9.60 4.95 A(idn) 100.04 2.00 30.00 9.59 3.90 19-Jul-17 BMTR01ACN1 7-Jul-22 11.50 4.95 idA+ 100.00 4.00 230.00 11.50 3.73 21-Jul-17 AGRO01B 7-Jul-22 8.50 4.95 idAA 100.10 2.00 100.00 8.47 4.00 21-Jul-17 BBTN02CCN1 8-Jul-22 10.00 4.95 idAA 103.76 2.00 1.00 9.05 3.89 20-Jul-17 PPLN09B 10-Jul-22 12.25 4.96 idAAA 108.52 2.00 2.00 10.05 3.74 21-Jul-17 BBNI01CN1 11-Jul-22 8.00 4.96 idAAA 100.27 3.00 21.50 7.93 4.06 19-Jul-17 BMTP01B 11-Jul-22 8.75 4.96 AA(idn) 100.02 2.00 6.00 8.74 3.99 19-Jul-17 BBTN03BCN1 13-Jul-22 8.50 4.97 idAA 100.80 4.00 40.00 8.30 4.03 20-Jul-17 BACA02SB 15-Jan-23 12.00 5.47 idBBB- 94.20 3.00 4.00 13.51 3.91 19-Jul-17 PIGN01C 21-Jun-23 9.25 5.91 idAA 100.02 2.00 2.00 9.24 4.49 19-Jul-17 APIA01B 30-Jun-23 8.80 5.93 idAAA 100.02 2.00 2.00 8.79 4.57 19-Jul-17 BMRI01BCN1 30-Sep-23 8.50 6.18 idAAA 100.02 2.00 6.00 8.50 4.76 19-Jul-17 SMBRIS01SB 16-Nov-23 - 6.31 A+(idn) 100.02 2.00 4.00 - - 20-Jul-17 SIPPLN01BCN2 10-Dec-23 9.60 6.38 idAAA 105.42 2.00 6.00 8.49 4.75 19-Jul-17 BBKP02SBCN2 28-Feb-24 11.00 6.59 idA 102.75 11.00 58.00 10.42 4.62 21-Jul-17 BVIC01SBCN1 11-Jul-24 11.00 6.96 idBBB+ 100.00 3.00 8.00 11.00 4.81 18-Jul-17 TLKM01BCN1 23-Jun-25 10.25 7.91 idAAA 100.00 2.00 46.00 10.25 5.35 19-Jul-17 PIGN01D 21-Jun-26 9.50 8.91 idAA 100.02 2.00 2.00 9.50 5.93 19-Jul-17 APIA01C 30-Jun-26 9.00 8.93 idAAA 100.02 2.00 2.00 9.00 6.07 19-Jul-17 BMRI01CCN1 30-Sep-26 8.65 9.18 idAAA 100.02 2.00 14.00 8.65 6.27 20-Jul-17 APAI01C 22-Nov-26 8.55 9.33 idAAA 101.07 2.00 8.00 8.38 6.32

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