TEMPO.CO, Jakarta - The Finance Ministry's director general for risk and financing management Robert Pakpahan said that as of September 28, 2016, the gross issuance value of state securities (SBN) has reached Rp585.6 trillion. The value is equivalent to 89.49 percent of the government's target to issue Rp68.7 trillion worth of bonds by the end of this year.
One way to patch the 2016 State Budget deficit, Robert said, is by offering the government retail bonds (ORI) series 013. The offering period starts today until October 20, for which the government is setting an indicative target of Rp20 trillion.
"With the ORI issuance, the [Rp68.7 trillion] shortage will be reduced significantly. The rest [of the financing need] will be sourced from weekly regular auctions," he said in Jakarta Thursday, Sept. 29.
Robert said that the ORI 013 has received a subscription worth Rp25 trillion.
Ramdhan Ario Maruto, associate director of fixed income at Anugerah Securindo Indah, said that given the heavy capital inflows in SBN market today, the government is likely to achieve their ORI 013 issuance target of Rp20 trillion, or even more.
Ramdhan estimates that the ORI 013 will have a coupon of 6.5-7.0 percent, taking into account today's deposit interest rate of six percent.
ANGELINA ANJAR SAWITRI | BISNIS.COM
