JAKARTA - The government through the Ministry of Finance will again hold an auction of government bonds (SUN). The auction involving seven series of SUN will take place on Tuesday, January 17.
Referring to the statement from the Director of SUN at the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, Thursday 12 January, the SUN series that will be auctioned include SPN03230419, SPN12240104, FR0095, FR0096, FR0097, FR0098, and FR0089.
"The indicative target is IDR 23 trillion, with a maximum target of IDR 34.5 trillion," said the statement.
In detail, the SPN03230419 and SPN12240104 series offer discount coupons. Then, FR0098 and FR0097 have coupons of 7.125 percent.
While FR0095 has a coupon of 6.375 percent, FR0096 is 7 percent, and FR0089 is 6.875 percent.
The sale of the SUN will be carried out using an auction system organized by Bank Indonesia. The auction is open (open auction), using the multiple price method.
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Auction winners submitting competitive bids will pay according to the proposed yield. Auction winners submitting non-competitive bids will pay according to the weighted average yield of the winning competitive bids.
The government has the right to sell the seven series of SUN in a larger or smaller amount than the specified indicative amount. The SUN to be auctioned has a nominal value per unit of IDR 1,000,000.
In principle, all parties, both individual and institutional investors, can submit bids in the auction. However, in practice, submission of bids must go through the Bidder as stipulated in PMK No. 168/PMK.08/2019 and/or PMK No. 38/PMK.02/2020.
Meanwhile, through this SUN auction, the government wants to fulfill part of the financing target in the 2023 State Budget.
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