Government Issues SBR013, Starting To Be Offered Next Monday

Rupiah (Photo: Antara)

JAKARTA - The government plans to issue the Savings Bond Retail (SBR)013 instrument. Meanwhile, SBR013 is offered in two terms of time, namely the 2-year tenor (SBR013T2) and the 4-year tenor (SBR013T4) which will be offered online (e-SBN).

The Retail Government Securities Instrument (SBN) is scheduled to be offered from June 10, 2024 to July 4, 2024.

The Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance revealed that the government has set the amount of yields or SBR coupons for the SBR013 series.

Meanwhile, the amount of SBR013T2 and SBR013T4 coupons was 6.45 percent and 6.60 percent, respectively, with a minimum coupon rate (floating with floor) with a benchmark interest rate being Bank Indonesia Rate (BI-Rate).

Meanwhile, the benchmark interest rate that applies when determining coupons is at the level of 6.25 percent. The adjustment to the coupon rate is based on the benchmark interest rate plus a fixed spread of 20 bps (0.20 percent) for SBR013-T2 and added a fixed spread of 35 bps (0.35 percent) for SBR013-T4.

Therefore, the coupon rate of 6.45 percent and 6.60 percent is the minimum coupon rate and does not change until due. However, if the benchmark interest rate of Bank Indonesia (BI) increases, the SBR013 coupon will also increase, while if the BI interest rate drops, the SBR013 coupon will not decrease lower than the minimum limit.

Meanwhile, the minimum coupon rate applies for the first 3 months, starting from July 10, 2024 to October 10, 2024. In addition, the next coupon rate will be adjusted every 3 months on the date of adjusting coupons until due.

The SBR013 is a state bond without warkat, cannot be traded on the secondary market, cannot be disbursed until maturity, except during the Payment Period Before the Tempo Falls (Early Redemption).

Meanwhile, the date of determination of the sale results will be announced on July 8, 2024 and the date of the schedule on July 10, 2024. Meanwhile, the maturity date for SBR013T2 on July 10, 2026, and SBR013T4 is due on July 10, 2028. Meanwhile, coupon payments will be made on the 10th of each month, and coupon payments for the first time on August 10, 2024.

The online purchase booking process for SBR013T2 and SBR013T4 is carried out through 4 stages, namely registration/registration, ordering, payment and setelmen/confirmation.

For people interested in being able to buy SBR013 with a minimum order of IDR 1 million, while the maximum order is IDR 5 billion for a 2 year tenor and IDR 10 billion for a 4 year tenor.

Purchasing orders are delivered through an electronic system provided by Mitra Distribution which has an interface with an e-SBN system. Orders can contact 27 Distribution Partners (Midis) who have been appointed by the Ministry of Finance's DGTPR.

The following is a list of 27 official SBR013 Distribution Partners:

1. PT Bank Central Asia Tbk2. PT Bank Negara Indonesia (Persero) Tbk3. PT Bank CIMB Niaga Tbk4. PT Bank OCBC NISP Tbk5. PT Bank Commonwealth6. PT Bank Panin Tbk7. PT Bank Danamon Indonesia Tbk8. PT Bank Permata Tbk9. PT Bank DBS Indonesia10. PT Bank Tabungan Negara (Persero) Tbk11. PT Bank HSBC Indonesia12. PT Bank UOB Indonesia13. PT Bank Mandiri (Persero) Tbk14. PT Bank Rakyat Indonesia (Persero) Tbk15. PT Bank Maybank Indonesia Tbk16. PT Bank Victoria International Tbk17. PT Bank Mega Tbk18. Standard Chartered Bank, Indonesia19. PT BRI Danareksa Sekuritas Indonesia21. PT Phillip Sekuritas Indonesia21. PT BNI Sekuritas Indonesia Tbk23. PT Mandiri Sekuritas24. PT Bareksa Portal Investama25. PT Nusantara Sejahtera Investama (FUNDtastic+)26. PT Bibit Grows Together27. PT Star Mercato Capitale (Tanamduit)