TEMPO.CO, Jakarta - The Indonesian government has bought back four series of illiquid fixed rates state bonds with a total nominal value of Rp500 billion through the secondary market.
The buyback was designed to manage state bond portfolio and give ground to state bonds which currently come under pressure, the Directorate General of Financing and Risk Management at the Finance Ministry said in a press statement released on Monday.
The statement said the buyback of state bonds include series FR0030 issued at a coupon of 10.75 percent and due on May 15, 2016. The buyback is set at Rp30 billion for 30,000 units with a weighted average price of 102.55 percent.
The buyback of series FR0055 issued at a coupon of 7.375 percent and due on September 15, 2016 is set at Rp147 billion for 147,000 units with a weighted average price of 99.95 percent.
The buyback of series FR0028 issued at a coupon of 10 percent and due on July 15, 2017, is set at Rp10 billion for 10,000 units and a weighted average price of 103.45 percent.
The buyback of series FR0066 issued at a coupon of 5.25 percent and due on May 15, 2018 is set at Rp313 billion for 313,000 units with a weighted average price of 92.54 percent. The settlement of the state bond repurchase transaction is August 26.
Earlier, the government also bought back two series of state bonds, namely FR0048 and FR0036 with a total nominal value of Rp500 billion, on August 21, and series FR0030 and FR0055 with a value of Rp401.3 billion on August 12.