Indonesia government auctions bonds worth IDR 10tln

The Indonesia’s finance ministry issued 10 trillion rupiah ($746.27 million) worth of bonds at an auction on Tuesday, below the indicative target of 12 trillion rupiah.

The weighted average yield for the one-year T-bills were around 6.39 pct, higher than the 6.26 pct at the previous sale on March 15. Also, bonds maturing in September 2026 had a weighted average yield of 7.86 pct.

Moreover, the weighted average yields for bonds maturing in May 2031 and May 2036 were 8.30 pct and 8.31 pct, respectively, higher than 8.21 pct and 8.24 pct each at March 15 auction.

Total incoming bids were 16.05 trillion rupiah, lower than the 22.08 trillion rupiah received in the previous auction. The highest bid-to-cover ratio was 2.18 for bonds maturing in May 2031.

As of March 24, foreign investors held 38.51 pct of all Indonesian government rupiah bonds, including Islamic bonds.