Minister encourages more SOEs to issue komodo bonds. State-owned Enterprises (SOEs) Minister Rini Soemarno is encouraging other SOEs to issue rupiah-denominated Komodo bonds, following the success of toll road operator PT Jasa Marga and construction firm PT Wijaya Karya (Wika) in listing their bonds on the London Stock Exchange (LSE).
She said one or two SOEs were in the process of issuing Komodo bonds. “The target is for the bonds to be issued in April or May,” Rini said after taking part in the LSE’s Market Open Ceremony on Jan. 29 to mark Wika’s successful admission to the bourse.
Rini, however, declined to name the SOEs that would be issuing the rupiah debt papers.
Earlier, PLN president director Sofyan Basir said the state-owned electricity company might follow in the steps of Wika and Jasa Marga, and that PLN planned to issue bonds worth Rp 10 trillion (US$747 million) to Rp20 trillion in the first half of 2018.
Wika listed its global rupiah-denominated Komodo bonds on the LSE on Monday, eyeing to collect Rp5.4 trillion ($403.4 million), while Jasa Marga listed the bonds on the same bourse, aiming to collect Rp4 trillion ($299 million).
Rini expressed hope that flag carrier Garuda Indonesia would also issue similar debt papers, which would not only diversify its financial resources, but also introduce the airline to the wider global market.