Corporate Bond Market to Stay Active in 2026

Lower Interest Rates Drive Issuance

The corporate bond market in Indonesia is expected to remain active in 2026, primarily due to the recent decrease in benchmark interest rates. This change creates favorable conditions for companies to issue bonds at more competitive rates, thus reducing their funding costs. Several major corporations have already announced plans to issue bonds in early 2026.

Key Issuers and Their Plans

1. PT Chandra Asri Pacific Tbk (TPIA): Plans to issue Obligasi Berkelanjutan V Chandra Asri Pacific Tahap I Tahun 2025 worth Rp 1.5 trillion. The bonds are scheduled to be listed on the Indonesia Stock Exchange (IDX) on January 14, 2026, with proceeds intended for working capital needs.
2. PT Energi Mega Persada Tbk (ENRG): Intends to issue Obligasi Berkelanjutan I Tahap I Tahun 2025 valued at Rp 500 billion. Listing on the IDX is expected on January 8, 2026.

Market Implications

The continued activity in corporate bond issuance reflects companies' strategic efforts to capitalize on lower borrowing costs. This trend is likely to support corporate financing needs while potentially stimulating economic activity through increased investment in various sectors.