JAKARTA (Yosefardi) – The Indonesian government expects to raise at least Rp20 trillion from the issuance of the 1oth series of its retail bonds (ORI).
The retail bond, offers a 8.5% coupon rate per annum, substantially higher than the ninth series (6.25%) issued last year. The rate is also significantly above average time deposit rate of 6-7% per annum.
“This is the highest target in our history of ORI,” said Anny Ratnawati, vice minister of finance, Friday (Sept 20).
One investor may order a minimum of five units with nominal value of Rp5 million and a maximum of Rp3 billion. The government plans to use proceeds from the ORI to finance the State budget deficit.