Thursday, August 09, 2012

INDONESIA - CAPITAL MARKETS - AUCTION RESULTS SUKUK yield at auction sukuk Demand remains high

www.ibpa.com - JAKARTA. State Sharia Securities Auction (SBSN) flooded bid placements. Bids reach Rp 1.93 trillion, nearly four times that of the government's target, which only Rp 500 billion.

Series of five sukuk offerings, the government only won two series. Both are PBS001 (reopening), which was won by the weighted average yield of 5.65%, and PBS004 (reopening) with a yield of 6.71% amounting to Rp 540 billion.

Three other sukuk series is not won, the SPN-S 08022013 (new issuance), PBS002 (reopening) and PBS003 (reopening) (source)


I Made Adi Saputra, NC bonds Securities analyst, said that demand for sukuk auction, yesterday (7/8) decreased slightly but not significantly.

Investors still dare to ask for a high yield. Take for example the series PBS004. If the first weighted average yield reached 6.69%, then the auction this time, rose to 6.71%.

Yield of investors bidding more competitive than sukuk auction two weeks ago. "Therefore, today there is price correction Government Securities (GS)," Made said.

In each auction sukuk, the government is quite selective. Made said the government refuse to issue sukuk with outrageously high interest rates. Because the government still has other options to increase liquidity, for example through a more competitive auction SUN.

Ranu Herdi Wibowo, Head of Debt Capital Market PT Trimegah Securities, adding the third sukuk series is not won, because the required return is too high bidders.

For sukuk PBS002 series, for example. The lowest yield of 6.09% in., and the supreme worth of 6.50%. The lowest yield offerings that go into the series PBS003 sukuk amounting to 6.59% and the highest was 7.00%.


Ditulis Oleh : Marantina, Sumber : www.kontan.co.id
JAKARTA. Lelang Surat Berharga Syariah Negara (SBSN) kebanjiran tawaran penempatan dana. Penawaran yang masuk mencapai Rp 1,93 triliun, hampir empat kali lipat dari target pemerintah, yang cuma Rp 500 miliar.
Dari lima seri sukuk yang ditawarkan, pemerintah hanya memenangkan dua seri. Keduanya adalah PBS001 (reopening), yang dimenangkan dengan yield rata-rata tertimbang 5,65%, dan PBS004 (reopening) dengan yield 6,71% senilai Rp 540 miliar.
Tiga seri sukuk lain yang tidak dimenangkan, adalah SPN-S 08022013 (new issuance), PBS002 (reopening) dan PBS003 (reopening).
I Made Adi Saputra, analis obligasi NC Securities, menuturkan, permintaan lelang sukuk, kemarin (7/8) agak menurun meski tidak signifikan.

Investor masih berani meminta yield tinggi. Ambil contoh seri PBS004. Jika dahulu yield rata-rata tertimbang mencapai 6,69%, maka di lelang kali ini, naik menjadi 6,71%.
Penawaran yield dari investor lebih kompetitif dibanding lelang sukuk dua pekan lalu. "Sebab, hari ini ada koreksi harga Surat Utang Negara (SUN)," ujar Made.
Dalam setiap lelang sukuk, pemerintah memang cukup selektif. Made bilang, pemerintah ogah menerbitkan sukuk dengan bunga yang terlampau tinggi. Pasalnya, pemerintah masih memiliki opsi lain untuk menambah likuiditas, misalnya melalui lelang SUN yang lebih kompetitif.
Herdi Ranu Wibowo, Head of Debt Capital Market PT Trimegah Securities, menambahkan, ketiga seri sukuk yang tidak dimenangkan, karena imbal hasil yang diminta peserta lelang terlalu tinggi.
Untuk sukuk seri PBS002, misalnya. Yield terendah yang masuk 6,09%, dan yang tertinggi senilai 6,50%. Adapun penawaran yield terendah yang masuk ke sukuk seri PBS003 sebesar 6,59% dan yang tertinggi sebesar 7,00%.


Source: http://www.ibpa.co.id/News/ArsipBerita/tabid/126/EntryId/4346/-HASIL-LELANG-SUKUK-Permintaan-yield-di-lelang-sukuk-tetap-tinggi.aspx  - Aug 9, 2012 - google translate

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