Three more Indonesian state firms eye Komodo bond issuance this year

Indonesian currency Rupiah on hold by a cashier. Photo: Reuters

After a successful London listing of Indonesia’s first Komodo bonds in December, investors should expect more of the said bonds as three of the country’s state-owned enterprises (SOEs) are set to issue them this year, the Jakarta Post reported, quoting the country’s State-owned Enterprises Minister.

Minister Rini Soemarno did not mention the names of the companies that are set to issue Komodo bonds but she said these firms are already computing the funds they expect to collect from the issuance.

If these three SOEs will push through with the planned issuance, they will follow the footsteps of toll road operator PT Jasa Marga, which issued Komodo bonds at the London Stock Exchange (LSE) in December.

It was Indonesia’s first London-listed, rupiah dominated bond and carried a 7.5 percent coupon. The bond was four times subscribed, according to a Reuters report.

Another SOE, construction firm PT Wijaya Karta (Wika) earlier announced plans to issue $400 million worth of rupiah-denominated bonds. It was still not clear if Wika is one of the three companies that Soemarno referred to.

President Joko Widodo earlier approved the plan for SOEs to issue rupiah-denominated global bonds. He also chose the term “komodo bonds”, referring to the Komodo dragon, a very large species of lizards found in eastern Indonesia.

Also Read:

Indonesian giant komodo bonds test demand after masala

Indonesia asks state-owned firms to tap markets for capital

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.