Indonesia Sells Rp 4.2t of Bonds to Pay Deficit
The government raised Rp 4.2 trillion ($450 million) from the sale of local-currency debt on Tuesday, more than the Rp 4 trillion it originally sought, after offering higher rates on the bonds.
The government sold Rp 950 billion of notes due in November 2020 to yield 9.85 percent, compared with 9.76 percent at a Jan. 26 sale, according to a statement from the Finance Ministry. It also sold Rp 750 billion of securities maturing in September 2025 at 10.58 percent, up from 10.5 percent last month.
The government also sold Rp 750 billion of notes maturing in August 2030 yielding 10.77 percent, compared with 10.55 percent at a Jan. 12 auction. The Finance Ministry also offered Rp 1.75 trillion of bills due February 2011 at 6.9 percent.
The government is selling debt to help finance a budget deficit projected to reach Rp 98 trillion, or 1.6 percent of GDP, in 2010. Indonesia plans to offer Rp 1 trillion of Islamic bonds on Feb. 16, the Finance Ministry said.
The government raised Rp 8 trillion selling Islamic bonds to retail investors on Monday.
Bloomberg
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