12 AUGUST 2015
Indonesia Sovereign Rating
S & P BB+
Moody's Baa3
Fitch
BBB-Key Market Indicators as of 11-Aug-15
BI Rate 7.50%
JCI Index 4,623
IDR 13,607
Inflation(y-o-y) - Jul-15 7.26%
Domestic Bonds Outstanding Gov't Bonds as of 07-Aug-15 Corp Bonds as of 31-Jul-15
Previous Week Trading Volume Government Bonds
Corporate Bonds
Benchmark Yield as of 11-Aug-15
FR0069 (5 year) 8.149%
FR0070 (10 year) 8.545%
FR0071 (15 year) 8.974%
FR0068 (20 year) 8.999%
Source : Bloomberg, Mid YTM
Government Bonds Indices as of 11-Aug-15
Price Index (Bloomberg : DGBIIDPR) 120.11
Yield Index (Bloomberg : DGBIIDYD) 8.63%
TR Index (Bloomberg : DGBIIDTR) 418.93
Calendar of Event 13-Aug-15
US Initital Jobless Claim (Survey : 270K; Prior : 270K)
13-Aug-15
Germany CPI MoM 2010=100 (Survey : 0.2%; Prior : 0.2%)
18-Aug-15
Bank Indonesia Reference Interest Rate (Survey : NA; Prior : 7.50%)
Analyst Rifki Rizal 3509888 ext 3404 [email protected] IDR 1.78tn IDR 1,380.7tn IDR 248.6tn IDR 71.03tn
The Uptrend of Currency Risk Premium
Government Bond Yields movedsideways
Government bond yields tended to move sideways during the first week in August. The Danareksa Government Bonds Yield Index declined by only 2bps from 8.55% to
8.53% last week. Looking at the
movements since the beginning of the year, the government bonds yield index is up by 52bps as of August 7, 2015. However, compared to the same time last year, the government bonds yield index is down by 31bps
Foreign investors were net sellers During the month of July 2015, foreign investors were net sellers. According to the
Ministry of Finance, net selling of
government bonds by foreign investors during the month reached IDR3.9 trillion. However, compared to the end of 2014, the foreign holdings of government bonds still recorded an increase of IDR72.34 trillion. Meanwhile in the Corporate bonds market, foreign investors remained as net sellers over the last 4 months with net selling reaching IDR1.71 trillion.
Yield Obligasi Bergerak Mendatar
Kinerja pasar obligasi Pemerintah cenderung mendatar di minggu pertama bulan Agustus. Danareksa Government Bond Yield Index mencatatkan penurunan tipis sebesar 2 bps dari 8,55% menjadi 8,53% selama minggu lalu. Namun bila dilihat dari awal tahun, yield indeks obligasi Pemerintah sampai dengan
tanggal 7 Agustus 2015 mengalami
peningkatan sebesar 52bps. Sementara itu, selama periode yang sama tahun lalu, yield indeks turun sebesar 31bps.
Investor asing mencatatkan net sell Selama Juli 2015, pergerakan investor asing di Pasar obligasi didominasi oleh tekanan jual.
Berdasarkan data dari Kementerian
Keuangan, investor asing mencatatkan net sell di pasar obligasi Pemerintah selama Juli 2015
sebesar Rp3,9 triliun. Namun jika
dibandingkan dengan akhir tahun 2014,
kepemilikan asing masih mengalami
peningkatan sebesar Rp72,34 triliun.
Sementara di pasar obligasi Korporasi,
investor asing terus mencatatkan net sell
selama 4 bulan terakhir dengan total
mencapai Rp1,71 triliun.
Peningkatan aktivitas pasar sekunder Total volume transaksi obligasi Pemerintah selama minggu lalu tercatat Rp71 triliun, atau
tumbuh 38% dari transaksi minggu
sebelumnya yang hanya mencapai Rp51,5 triliun. Obligasi Pemerintah tenor pendek masih mendominasi transaksi selama minggu lalu dengan proporsi transaksi sebesar 44,27% atau Rp31,45 triliun dari total transaksi. Sementara itu, volume transaksi obligasi korporasi selama minggu lalu turun Rp692 miliar menjadi Rp1,88 triliun dan rata-rata sebesar Rp6 miliar per transaksi. Sektor Banking menjadi sektor dengan total transaksi Secondary market activity increased
Total trading reached IDR71 trillion last week, or up 38% compared to trading in the previous week which reached only IDR51.5 trillion. Government bonds with short tenors continued to dominate the trading last week, accounting for 44.27% of the total trading in government bonds, or IDR31.45 trillion. Meanwhile, last week’s trading in corporate bonds was down by IDR692 billion to IDR1.88 trillion with the average size of each transaction reaching IDR6 billion. The banking sector accounted for the bulk of the trading (38.42% of the
Foreign Movement in Gov't Bonds Market
-20.00 -10.00 0.00 10.00 20.00 30.00 40.00 50.00 Jan 1 4 Feb 1 4 Ma r 1 4 Ap r 14 Ma y 1 4 Jun 1 4 Jul 1 4 Au g 14 Se p 1 4 Oc t 1 4 No v 1 4 Dec 1 4 Jan 1 5 Feb 1 5 Ma r 1 5 Ap r 15 Ma y 1 5 Jun 1 5 Jul 1 5 IDR Tr illion
Foreign Net Buy/Sell Gov't Bonds Net Issuance
-2.0 0.0 2.0 4.0 6.0 8.0 10.0 Jan 1 4 Feb 1 4 Ma r 1 4 Ap r 14 Ma y 1 4 Jun 1 4 Jul 1 4 Au g 14 Se p 1 4 Oc t 1 4 No v 1 4 Dec 1 4 Jan 1 5 Feb 1 5 Ma r 1 5 Ap r 15 Ma y 1 5 Jun 1 5 Jul 1 5 IDR Tr illion
Foreign Net Buy/Sell Corporate Bonds Net Issuance
Foreign Movement in Corporate Bonds Market Source : MoF, Danreksa Estimates
trended higher until now. By the end of July 2015, the currency risk premium had reached a level of 422 bps, or up by 101 bps from its level at the end of January 2015. The uptrend in the currency risk premium reflects the persistent weakening of the rupiah exchange rate. As of July 31, 2015, the Rupiah/US dollar exchange rate had weakened by 8.68% (year-to-date). Other than the Rupiah, other currencies in the ASEAN region had also weakened: the Malaysian Ringgit (MYR/USD) by 9.34% and the Thai Baht (THB/USD) by 6.5% in the same period.
premium berada dalam tren peningkatan hingga saat ini. Per akhir Juli 2015, currency risk premium berada di level 422bps, naik 101bps dari posisinya di akhir Januari 2015. Peningkatan currency risk premium ini salah satunya disebabkan oleh pelemahan nilai tukar Rupiah. Per 31 Juli 2015, nilai tukar Rupiah terhadap Dollar AS (USDIDR) telah mengalami pelemahan sebesar 8,68% (year-to-date). Selain Rupiah, beberapa mata uang di Asean juga mengalami pelemahan. Ringgit Malaysia (USDMYR) dan Baht Thailand (USDTHB) juga mengalami pelemahan masing-masing sebesar 9,34% dan 6,5% dalam periode yang sama.
Spread INDON 10 year Over UST 10 year Spread IDR Gov't Bond 10 year over INDON 10 year
Source: Bloomberg, Danareksa Estimate Source: US Treasury, Bloomberg, Danareksa Estimate
300 320 340 360 380 400 420 440 3.5% 4.5% 5.5% 6.5% 7.5% 8.5% 9.5% Jun -1 4 Jul-1 4 Au g -14 Se p -14 Oc t-1 4 No v -14 Dec-14 Jan-1 5 Feb-1 5 Ma r-1 5 Ap r-15 Ma y-1 5 Jun -1 5 Jul-1 5 Au g -15
Currency Risk Premium (RHS) INDON 10Y SUN 10Y 300 320 340 360 380 400 420 440 11,500 12,000 12,500 13,000 13,500 14,000 Jun -1 4 Jul-1 4 Au g -14 Se p -14 Oc t-1 4 No v -14 Dec-14 Jan-1 5 Feb-1 5 Ma r-1 5 Ap r-15 Ma y-1 5 Jun -1 5 Jul-1 5 Au g -15
3-Aug-15 6-Aug-15 - 0.02 99.96 2.00 0.04 < 1yr
6-Aug-15 12-Aug-15 - 0.00 99.91 1.00 0.09 < 1yr
7-Aug-15 3-Sep-15 - 0.06 99.63 2.00 0.37 < 1yr
6-Aug-15 10-Sep-15 - 0.08 99.53 1.00 0.47 < 1yr
6-Aug-15 11-Sep-15 - 0.08 99.51 1.00 0.49 < 1yr
6-Aug-15 21-Sep-15 6.25 0.11 99.95 4.00 6.25 < 1yr
5-Aug-15 8-Oct-15 - 0.16 98.98 2.00 1.03 < 1yr
7-Aug-15 8-Oct-15 - 0.16 98.95 1.00 1.06 < 1yr
7-Aug-15 15-Oct-15 6.25 0.18 99.75 3.00 6.27 < 1yr
7-Aug-15 5-Nov-15 - 0.23 98.47 1.00 1.55 < 1yr
7-Aug-15 27-Feb-16 6.00 0.54 98.70 9.00 6.08 < 1yr
7-Aug-15 4-Mar-16 - 0.56 96.44 1.00 3.69 < 1yr
4-Aug-15 25-Mar-16 3.75 0.62 99.12 1.00 3.78 < 1yr
7-Aug-15 15-May-16 10.75 0.76 102.85 1.00 6.86 < 1yr
7-Aug-15 15-Jun-16 7.00 0.84 99.80 4.00 7.23 < 1yr
6-Aug-15 15-Sep-16 7.38 1.09 99.85 1.00 7.51 1yr - 5yr
7-Aug-15 15-Oct-16 8.50 1.18 100.25 5.00 8.48 1yr - 5yr
7-Aug-15 5-Mar-17 8.75 1.56 100.05 13.00 8.75 1yr - 5yr
7-Aug-15 15-Jul-17 10.00 1.93 104.75 1.00 7.32 1yr - 5yr
7-Aug-15 15-Oct-17 8.50 2.18 100.25 7.00 8.48 1yr - 5yr
7-Aug-15 11-Mar-18 8.25 2.58 100.00 32.00 8.25 1yr - 5yr
7-Aug-15 15-May-18 5.25 2.76 93.15 3.00 8.05 1yr - 5yr
3-Aug-15 15-Aug-18 11.60 3.01 108.73 4.00 8.28 1yr - 5yr
7-Aug-15 15-Apr-19 7.88 3.68 99.00 6.00 8.19 1yr - 5yr
6-Aug-15 15-Sep-19 11.50 4.09 111.75 3.00 8.08 1yr - 5yr
7-Aug-15 15-Nov-20 11.00 5.26 111.25 1.00 8.31 5yr - 10yr
6-Aug-15 15-Jun-21 12.80 5.84 120.50 1.00 8.30 5yr - 10yr
7-Aug-15 15-Jul-21 8.25 5.93 100.10 8.00 8.23 5yr - 10yr
4-Aug-15 15-Jan-22 5.45 6.43 83.50 1.00 8.86 5yr - 10yr
7-Aug-15 15-May-22 7.00 6.76 92.65 3.00 8.44 5yr - 10yr
7-Aug-15 15-Jun-22 12.90 6.84 122.75 3.00 8.45 5yr - 10yr
5-Aug-15 15-Jul-22 5.19 6.93 108.75 1.00 8.55 5yr - 10yr
6-Aug-15 15-May-23 5.63 7.76 84.18 9.00 8.44 5yr - 10yr
4-Aug-15 15-Jul-23 9.50 7.93 104.85 1.00 8.64 5yr - 10yr
7-Aug-15 15-Mar-24 8.38 8.59 99.40 17.00 8.47 5yr - 10yr
7-Aug-15 15-Sep-24 10.00 9.09 108.25 1.00 8.67 5yr - 10yr
7-Aug-15 15-Sep-25 11.00 10.09 115.25 1.00 8.70 > 10yr
7-Aug-15 15-Sep-26 8.38 11.09 101.50 7.00 8.17 > 10yr
7-Aug-15 15-May-27 7.00 11.76 90.50 5.00 8.28 > 10yr
4-Aug-15 15-Jul-27 10.25 11.93 111.25 1.00 8.71 > 10yr
3-Aug-15 15-Feb-28 10.00 12.51 109.39 2.00 8.75 > 10yr
7-Aug-15 15-May-28 6.13 12.76 80.00 5.00 8.75 > 10yr
7-Aug-15 15-Mar-29 9.00 13.59 104.50 20.00 8.44 > 10yr
7-Aug-15 15-Aug-30 10.50 15.01 114.50 6.00 8.75 > 10yr
7-Aug-15 15-May-31 8.75 15.76 101.50 24.00 8.57 > 10yr
7-Aug-15 15-Jul-31 9.50 15.93 105.15 6.00 8.89 > 10yr
7-Aug-15 15-Jun-32 8.25 16.84 97.00 29.00 8.59 > 10yr
7-Aug-15 15-May-33 6.63 17.76 79.55 9.00 8.94 > 10yr
7-Aug-15 15-Mar-34 8.38 18.59 99.50 78.00 8.43 > 10yr
7-Aug-15 15-May-36 8.25 20.76 98.50 48.00 8.40 > 10yr
6-Aug-15 15-Jul-38 10.50 22.93 115.00 2.00 8.95 > 10yr
7-Aug-15 15-Apr-42 6.38 26.68 71.65 5.00 9.25 > 10yr
Last Trade Date Modified Duration -0.18 179.65 630.56 630.49 196.77 -1.74 -1,834.91 35.40 973.23 2,418.38 Freq Tenor Class -0.63 506.00 189.61 173.40 0.72 0.81 1.02 -318.00 4.60 5.17 80.67 674.92 17,458.71 20.71 2.48 2.43 3.07 3.17 440.60 104.00 2,814.18 36.69 3.95 4.21 5.54 5.85 5.83 6.11 14.80 6,400.05 69.52 19.46 5.14 4.70 5.54 5.92 2,593.05 9,596.43 169.20 599.25 8.04 7.64 7.64 8.37 774.17 5,140.73 473.65 420.72 6.95 7.56 7.06 7.02 697.20 48.42 24.00 4.80 8.28 8.79 9.21 9.03 FR0068 1,248.27 2,693.51 663.19 6,646.90 9.60 9.38 10.17 FR0072 FR0050 FR0062 1,154.50 101.15 12.19 FR0052 FR0073 FR0054 FR0058 FR0065 FR0028 ORI011 SR007 FR0066 FR0038 FR0069 FR0036 FR0031 FR0034 FR0053 PBS002 FR0061 FR0035 FR0043 FR0063 FR0070 FR0044 FR0040 FR0056 SR006 FR0046 FR0059 FR0042 FR0047 FR0064 FR0071 Yield 197.00 596.51 24.00 Bonds SPN12150710 SPN03150812 SPN12150903 SPN03150910 ORI009 SPN12151105 SR005 SPN03150604 VR0022 FR0030 PBS008 FR0055 ORI010 SPNS08102015
Maturity Coupon Tenor Vol (IDR
Bn) 4.10 SPNS11092015 SR004 SPN03151008 142.00 200.00 267.18 Last Done Price 126.04 196.00
APPENDICES
6-Aug-15 9-Nov-15 9.60 0.24 idAAA 100.60 25.50 9.54
5-Aug-15 16-Nov-15 10.68 0.26 idBBB+ 100.77 0.15 10.59
7-Aug-15 22-Dec-15 9.20 0.36 AA(idn) 100.35 5.00 9.17
7-Aug-15 27-Dec-15 10.75 0.38 idA 98.52 14.00 10.91
4-Aug-15 29-Dec-15 9.60 0.38 idAA+ 100.64 30.00 9.54
4-Aug-15 19-Feb-16 7.40 0.52 AA(idn) 99.55 71.05 7.43
5-Aug-15 20-Feb-16 9.00 0.52 AA(idn) 100.30 52.00 8.97
3-Aug-15 22-Feb-16 7.75 0.53 idAAA 99.58 3.00 7.78
4-Aug-15 29-Mar-16 9.88 0.63 A+(idn) 99.00 6.00 9.97
6-Aug-15 4-Apr-16 7.75 0.64 idAAA 99.53 1.00 7.79
4-Aug-15 11-Apr-16 8.60 0.66 AAA(idn) 100.25 10.00 8.58
5-Aug-15 9-May-16 7.70 0.74 idAAA 98.00 0.30 7.86
6-Aug-15 11-May-16 8.25 0.75 idA 98.25 1.00 8.40
7-Aug-15 18-May-16 10.50 0.77 idA 98.57 63.00 10.65
7-Aug-15 23-May-16 6.40 0.78 idAAA 98.55 91.25 6.49
3-Aug-15 19-Jun-16 7.75 0.85 AA+(idn) 98.90 9.00 7.84
4-Aug-15 21-Jun-16 8.50 0.86 idAA+ 100.15 24.00 8.49
3-Aug-15 4-Jul-16 7.75 0.89 AA(idn) 99.92 16.00 7.76
7-Aug-15 6-Jul-16 13.50 0.90 idAA 104.17 6.00 12.96
3-Aug-15 7-Jul-16 8.40 0.90 idAAA 100.15 4.00 8.39
3-Aug-15 12-Jul-16 8.50 0.92 idAAA 100.42 60.00 8.46
3-Aug-15 25-Aug-16 11.00 1.04 idA 100.70 0.90 10.29
7-Aug-15 24-Oct-16 10.50 1.20 idAAA 101.52 28.00 9.16
6-Aug-15 6-Dec-16 8.75 1.32 idAAA 100.03 20.00 8.72
5-Aug-15 8-Dec-16 11.75 1.32 idAAA 103.80 16.50 8.71
7-Aug-15 16-Dec-16 9.00 1.34 idAAA 99.77 9.60 9.18
6-Aug-15 23-Dec-16 8.30 1.36 idAAA 97.80 31.00 10.02
3-Aug-15 10-Feb-17 9.40 1.49 AA(idn) 100.35 15.00 9.15
3-Aug-15 21-Feb-17 8.60 1.53 idAAA 97.50 0.15 10.36
6-Aug-15 14-Mar-17 10.50 1.59 idAAA 101.00 0.20 9.81
6-Aug-15 22-Apr-17 11.25 1.69 idA 102.00 0.70 9.96
6-Aug-15 8-May-17 8.50 1.74 idA 98.25 20.00 9.59
7-Aug-15 23-May-17 10.70 1.78 idAA 102.40 22.00 9.23
5-Aug-15 31-May-17 7.25 1.80 idAA+ 97.53 0.10 8.73
7-Aug-15 11-Jun-17 9.60 1.83 idAA+ 100.22 12.00 9.46
6-Aug-15 19-Jun-17 8.75 1.85 idAA- 97.00 0.40 10.53
4-Aug-15 21-Jun-17 10.25 1.86 idAA 100.00 1.00 10.25
5-Aug-15 4-Jul-17 9.25 1.89 idAA- 100.03 0.60 9.23
6-Aug-15 8-Jul-17 11.30 1.91 AA(idn) 101.00 116.00 10.71
7-Aug-15 10-Jul-17 10.40 1.91 idAAA 101.97 12.00 9.27
6-Aug-15 15-Aug-17 9.38 2.01 idA 97.00 24.00 11.05
6-Aug-15 27-Sep-17 8.75 2.13 idAAA 97.50 20.10 10.06
5-Aug-15 30-Oct-17 7.75 2.22 idAAA 97.00 35.10 9.25
6-Aug-15 9-Nov-17 10.50 2.24 idAA- 100.90 72.00 10.05
5-Aug-15 18-Nov-17 10.40 2.27 idA 100.00 1.00 10.40
7-Aug-15 12-Dec-17 10.00 2.33 idAAA 101.32 2.50 9.36
5-Aug-15 16-Dec-17 10.50 2.34 idA 95.06 24.00 12.95
6-Aug-15 18-Dec-17 9.80 2.35 A-(idn) 96.23 25.00 11.64
4-Aug-15 18-Dec-17 9.90 2.35 A-(idn) 96.00 3.00 11.85
3-Aug-15 19-Dec-17 10.50 2.35 idA 101.43 16.00 9.81
7-Aug-15 10-Feb-18 9.80 2.49 AA(idn) 101.20 113.00 9.26
5-Aug-15 1-Mar-18 8.90 2.55 idAAA 99.75 0.10 9.01
7-Aug-15 15-Mar-18 8.10 2.59 idA 93.95 15.60 10.79
7-Aug-15 15-Mar-18 8.50 2.59 idAA- 98.00 0.19 9.37
7-Aug-15 1-Apr-18 9.40 2.64 AAA(idn) 100.70 3.00 9.10
7-Aug-15 24-Apr-18 9.25 2.70 idAAA 101.00 5.50 8.83
6-Aug-15 8-May-18 9.70 2.74 AA-(idn) 100.00 60.00 9.70
7-Aug-15 4-Jun-18 9.25 2.81 idAAA 101.00 1.05 8.84
5-Aug-15 5-Jun-18 8.38 2.81 idAA- 100.00 0.10 8.37
5-Aug-15 11-Jun-18 8.00 2.83 idAA- 93.20 7.00 10.80
0.25
ASDF02ACN4 1.00
0.39 0.27 Rating Last Done
Price Yield Modified Duration Vol (IDR Bn) 0.52 0.36 0.37 0.51 0.53 NISP01CCN1 1.00 NISP01ACN2 2.00 ASDF01BCN3 1.00 0.62 0.63 0.66 0.72 BFIN02ACN2 2.00 FIFA01BCN2 1.00 BBIA01A 3.00 BCAF01DCN1 4.00 0.72 0.72 0.76 0.83 IMFI01CCN1 2.00 MFIN02ACN1 4.00 BEXI01BCN3 1.00 BIIF02A 3.00 0.83 0.87 0.84 0.88 TAFS01ACN2 3.00 BTPN02ACN1 2.00 JMPD12Q 2.00 BBRI01ACN1 2.00 0.89 0.97 1.13 1.23 ASDF02ACN5 3.00 APLN01B 1.00 ADMF02BCN2 2.00 BNII01BCN1 4.00 1.21 1.25 1.27 1.37 ISAT07B 1.00 ADMF01CCN1 2.00 BNGA01B 1.00 NISP01BCN2 1.00 1.41 1.44 1.54 1.58 ASDF01CCN1 1.00 FIFA01BCN3 1.00 IMFI01BCN4 1.00 IMFI01CCN2 1.00 1.59 1.66 1.65 1.68 TUFI01ACN2 1.00 INDF06 1.00 SMII01A 2.00 MEDC03 1.00 1.67 1.72 1.70 1.72 JMPD13R 2.00 BSDE01BCN1 1.00 BNGA01SB 1.00 PPLN09A 2.00 1.78 1.91 2.02 1.94 APLN02 1.00 ADMF01CCN3 18.00 BNGA01BCN1 1.00 PNBN04SB 4.00 2.04 2.02 2.05 WSKT01CN1 2.00 ISAT01ACN1 2.00 DNRK01ACN2 4.00 AGII02 6.00 2.05 2.06 2.15 2.24 SIAGII02 1.00 PNMP01BCN1 2.00 NISP01CCN2 5.00 ADMF02DCN1 1.00 2.30 2.37 2.34 2.43 2.47 2.47 ROTI01CN1 6.00 2.28 2.28 SMFP02ACN5 3.00 ADHI01ACN2 4.00
Coupon Tenor Freq
Last Trade
DateBonds Maturity
ISAT01BCN2 1.00 BSDE01CN2 1.00 MEDC01CN2 1.00 BBIA01B 1.00 FIFA02BCN1 1.00 AMRT01ACN2 1.00 BWPT01 1.00 BTPN03B 1.00 MDLN02A 2.00 1.97
Appendix 2. Corporate Bonds Trading 3 - 7 August 2015
5-Aug-15 11-Jun-18 8.00 2.83 idAA- 93.20 7.00 10.80
6-Aug-15 27-Jun-18 9.25 2.88 idA 98.40 26.00 9.89
4-Aug-15 28-Jun-18 11.00 2.88 idAA+ 100.00 6.00 11.00
5-Aug-15 5-Jul-18 9.25 2.90 BBB+(idn) 91.70 9.00 12.70
7-Aug-15 7-Jul-18 12.00 2.90 idA 100.00 140.00 12.00
3-Aug-15 8-Jul-18 9.63 2.91 idAA 100.55 20.00 9.41
3-Aug-15 10-Dec-18 9.00 3.33 idAAA 98.65 5.00 9.47
4-Aug-15 11-Dec-18 10.85 3.33 idA+ 100.15 2.00 10.79
4-Aug-15 11-Jun-19 10.00 3.83 idAA+ 100.22 20.00 9.93
6-Aug-15 13-Jun-19 10.13 3.84 idAA+ 101.66 64.50 9.60
7-Aug-15 24-Jun-19 12.50 3.87 idA 103.00 3.95 11.53
4-Aug-15 27-Jun-19 8.63 3.88 idAAA 95.00 0.02 10.19
3-Aug-15 10-Oct-19 11.50 4.16 idA+ 103.55 40.00 10.44
5-Aug-15 16-Dec-19 11.00 4.34 idA 92.04 4.00 13.44
7-Aug-15 19-Dec-19 12.50 4.35 idA 100.80 150.00 12.26
5-Aug-15 19-Dec-19 9.40 4.35 idAA+ 96.27 0.10 10.47
5-Aug-15 21-Dec-19 8.75 4.36 idAA- 93.00 0.60 10.77
7-Aug-15 13-Mar-20 9.50 4.59 idAAA 101.00 0.10 9.23
5-Aug-15 18-Mar-20 10.00 4.60 idAA- 94.15 1.00 11.65
4-Aug-15 27-Jun-20 10.50 4.88 idA- 93.00 6.00 12.43
4-Aug-15 23-Dec-20 10.85 5.36 AA(idn) 98.50 0.60 11.22
7-Aug-15 30-Jun-21 12.00 5.88 4.45 33.00 259.32
5-Aug-15 27-Jun-22 8.88 6.88 idAAA 94.00 10.00 10.09
5-Aug-15 23-Jun-25 10.25 9.86 idAAA 92.04 20.00 11.61
SMRA01CN1 1.00 3.02 3.22 3.12 Yield Modified Duration 2.41 PPLN01ACN2 1.00 2.47 2.48 2.43 2.47 2.82 MDLN01ACN1 2.00 BBTN02ACN1 2.00 ROTI01CN1 6.00 APLN01CN1 1.00 BNLI02SB 2.00 GIAA01CN1 3.00 2.74 3.12 3.48 4.99 2.51 SMII01B 1.00 INDF07 3.00 TAXI01 4.00 ISAT08A 1.00 3.28 3.29 3.32 SMRA01CN2 4.00 DNRK01BCN2 4.00 APLN01CN3 7.00 3.65 AKRA01B 1.00 BEXI02CCN5 1.00 ROTI01CN2 1.00 BVIC03SB 2.00 BNGA02SB 1.00 APOL02A 6.00 ISAT08B 2.00 TLKM01BCN1 4.00 BNLI01SBCN2 1.00 Last Trade
Date Bonds Maturity Coupon Tenor Freq
Vol (IDR Bn) Rating Last Done
Price 3.98 0.32 3.57 3.69 5.91 3.52
APPENDICES
Source: Danareksa, BEI
Debt Research (62 21) 2955 5777
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Head of Debt Research Yudistira Slamet [email protected]
Credit Analysts Market Analyst
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[email protected] Production & Database Management
Eka Nuraini
Melissa Hartono [email protected] ext. 3407
Debt Capital Market Div. (62 21) 2955 5777
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Head of Debt Capital Market Breisga Nawangsidi
Debt Capital Market Team
Setyo H. Purnomo Romi Mulyadi
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Rina Rimawati D Indra Figrachanda
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Putrika Mayadipta [email protected]
Tia Aprianti
Hernita Dwi Ariesandhy [email protected] Khalid Abdurrahman [email protected] ext. 3227 DISCLAIMER ext. 3217 62 21) 3501088 ext. 3223 ext. 3213 ext. 3226 ext. 3216 ext. 3215 ext. 3400 ext. 3405 ext. 3402
Debt Capital Market Division RESEARCH TEAM
ext. 3406
ext. 3404
ext. 3214
ext. 3225
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