JAKARTA. The Indonesian government will arrange a Government Securities (lit. Surat Utang Negara/SUN) auction next Tuesday (14/3), targeting a total of IDR 20 trillion.

The auction will take place based on the Minister of Finance Regulation No.168/PMK.08/2019 dan PMK No.168/PMK.08/2019. “In order to fulfill some of the financing target set in the 2023 State Budget,” the Directorate General of Budget Financing and Risk Management of Minister of Finance mentioned in its official statement.

There will be 7 series of SUN that will be offered in next week’s auction. Those seven series will consist of 2 series of Government Treasury Notes (lit. Surat Perbendaharaan Negara/SPN) and 5 FR series of Government Bonds (lit. Obligasi Negara/ON). The coupon set for SPN series is discount, while ON series are equipped with coupon rates starting from 6.37% to 7.12%.

The auction will be an open auction using the system by Bank Indonesia (BI). All interested parties may submit their bids in the auction through authorised members verified by the Ministry of Finance.

According to IDNFinancials, the Indonesian government had previously arranged a SUN auction on February 28, 2023. In said auction, the incoming bids were reported at IDR 45.97 trillion, recording total awarded amount of IDR 20 trillion. (KR/ZH)