JAKARTA: Amid the unstable global condition, the government bond auction was full with local and foreign investor.
Based on the report of the auction over five series of government bonds released by General Directorate of Debt Management yesterday, total bid on the auction was still high, although it was lower than the previous auction.
Total bid in the auction was IDR42.38 trillion, or lower than the previous auction which booked a record at IDR50.13 trillion.
Amid the high bid, the government did not want to miss the chance as it increased the issuance target to IDR12 trillion or up 50% from the indicative target set at IDR8 trillion.
Most investor hunted government bond with 30 year-tenor, such as FR0062. The bond booked total bid of IDR14.36 trillion
Meanwhile, the other most hunted bonds are FR0058 and FR0059 with total bid IDR9.23 trillion and IDR8.18 trillion respectively.
Two government bonds with short tenor are SPN03120508 and SPN12130208 which booked total bid of IDR4.54 trillion and IDR6.08 trillion.
Debt Management Director at Ministry of Finance Rahmat Waluyanto said the
Government bond with 30 year-tenor was mostly hunted by local investors, such as insurers and pension fund.
Bond analyst at PT Mega Capital Indonesia Ariawan said the high demand of government bond with long term tenor is happened as the investors expect high gain. It was caused by the decline potency on the yield of government bonds with long term tenor.
Government bond yield
The details of government bonds which were successfully issued are SPN03120508 with a 1.69% yield bagged IDR1 trillion.
Secondly, SPN12130208 with a 3,02% yield which booked IDR1 trillion from the market. Thirdly, FR0059 with yield of 5.75% and coupon rate of 7% successfully bagged IDR3.45 trillion.
Fourth, FR0058 with yield of 6.18% and coupon rate of 8.25% scooped IDR2 trillion from IDR2 trillion. And the last is FR0062 with yield level of 6.49% and coupon rate 6.38% finally absorbed fund amounting IDR4.55 trillion.
President Director of Indonesia Bond Pricing Agency (IBPA) Ignatius Girendroherusaid the weighted average yield of fixed rate (FR) and fair yield midday (IBPA) was thin, which ranging between 1.2 basis points and 1.7 basis points.(T03/msw)
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