JAKARTA. To refinance their debts, several issuers issue bonds due to the decline in cost of funds during the COVID-19 pandemic. 

PT Jasa Marga Tbk (JSMR) is one of the issuers. Corporate Finance Group Head of JSMR Eka Setya Adrianto explained that the company will issue local bonds in the near future. According to Eka, JSMR's outstanding local bonds are only Rp1 trillion, which will mature in October 2020. Because of that, the company believes that it needs to issue bonds as an effort to diversify funding, said Eka as quoted by Bisnis on Wednesday (8/7).

Meanwhile, PT Tower Bersama Infrastructure Tbk (TBIG) is also preparing to issue bonds. Finance Director Helmy Yusman Santoso assesses bonds are an efficient funding alternative. "Moreover, the cost of rupiah bonds is also quite low," he said. 

Data from the Indonesian Rating Agency (Pefindo) shows that as of 30 June 2020, 59 companies have issued mandates to issue bonds, with a total value of Rp 74.16 trillion, for investment and refinancing purposes. (AM/AR)