Regulations concerning bond issuances for issuers and public companies are specified in the Capital Market Law.

Government Debt

The Ministry of Finance has the authority to issue government debt securities with prior approval from the People's Legislative Assembly. Bank Indonesia, as the implementing agency, stipulates and administers the regulations regarding the issuance, sale and purchase of these debt instruments. A copy of the Government Law, issuing and tender procedures for government securities are detailed at the web link below.

Corporate Debt

Corporate debt securities must be rated by PEFINDO before they are issued, and participants must be registered with the Capital Market and Financial Institution Supervisory Board (BAPEPAM-LK). A bond prospectus must be submitted to BAPEPAM-LK for registration. Further requirements are listed in the registration document linked below.

The Indonesia Stock Exchange (IDX) provides a flowchart of bond issuing process and listing requirements. Indonesian Central Securities Depository (KSEI) registers bonds in the C-BEST system after the registered company lists the bond and obtains a bond code from the IDX. Refer to the KSEI and IDX links below.

Asset-Backed Securities

Issuance of asset-backed securities (ABS) requires the investment manager to submit a registration statement attaching other documents, including collective investment contract, legal opinion, proposed final prospectus and rating documents to BAPEPAM-LK. Guidelines for the form and content of ABS prospectus and collective investment contract are detailed below.