"The companies have originally planned to issue bonds at the end of this year but put the plan on hold until next year," Pefindo director for law and compliance Yohanes Arts Abimanyu said here on Thursday.
Most of the companies were engaged in banking, construction, plantation and multifarious industries, he said adding they had originally planned to issue bonds worth Rp1.65 trillion.
Pefindo was likely to revise downward its target of corporate bond issues at Rp70 trillion-Rp80 trillion this year.
"It is likely the target will be revised. The target of Rp70 trillion is difficult to achieve," he said.
Meanwhile, Pefindo rating director Vonny Widjaja said a number of companies tended to postpone their bond issues until the financial market was stable.
They feared the bonds would yield high coupons as a consequence of Bank Indonesia`s decision to raise its benchmark interest rate by 50 basis points to 7 percent, he said.
Many institutions which usually bought bonds had switched to time deposits, he noted. (*)
Editor: Heru Purwanto
Copyright © ANTARA 2013
