TBIG - To issue IDR1.5 worth of bonds

TBIG - To issue IDR1.5 worth of bonds Tower Bersama Infrastructure (TBIG) is set to issue a IDR1.5tn worth of bonds which yields 6.75% per year. The bond issuance is part of its shelf-registered bonds VI with a total targeted proceed of IDR20tn. (Source: Emiten News) Comment: Amid high interest environment, it is worth noting that TBIG's strength lies on its ability to keep its finance costs at manageable level, thanks to its lower leverage ratio compared to closest peer and its strong cash flow. Although, lower leverage could come with a caveat: that it might indicate its conservative approach for expansion. Given that, we still maintain our HOLD call for TBIG.