Govt. Aims To Seize IDR5 Trillion From Bond Auction ?

MAKE MONEY BLOG$,JAKARTA: Government targets to seize IDR5 trillion from domestic market in an auction of 4 series of government bonds on March 8, 2011. 


The four series of government bonds (SUN) include SPN20120309, FR0055, FR0053, and FR0056. Meanwhile, the auction of SPN20120309 is a new issuance having a similar structure with others SPN, namely the payment of interest will have a discount and a maturity of 1 year.

In addition,FR0055 series has 5 year tenor and is formulated to have fixed rate by 7.37%. Then, FR0053 series owns 8.25% fixed rate maturating on July 15, 2021, and the last us FR0036 series having a fixed rate by 8.37% and due to September 15, 2026.

“The indicative total of the government bond is about IDR5 trillion to cover a part of financing target in State Budget of 2011. The auctioned SUN has nominal price by IDR1 million a unit,” wrote Bureau Head of Public Relation of Finance Ministry Yudi Pramadi in the press conference, today.

According to Yudi, the SUN sales will be executed by open-auction system held by Bank Indonesia with multiple price method.

“Later, the auction winner who has proposed competitive bids will pay in accordance with proposed yield, while the auction winner who has proposed non-competitive bids will pay in accordance with weighted average yield from competitive bids that is determined to win,” he said.

The auction will open on March 8 2011 at 10.00 Jakarta time and will close at 12.00 Jakarta time. Then, the result will be announced in the same day while the settlement will be executed on March 10, 2011. (t01/wiw)
Source: bisnis.com

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