REPUBLIKA.CO.ID, JAKARTA - The Indonesian government will auction rupiah-denominated state bonds of 10  trillion IDR on January 21 to meet part of its financing target in the 2014 state budget. The bonds up for the auction would carry a nominal value of 1 million IDR each, the Directorate General of Debt Management at the Finance Ministry said in a press statement released on Friday.

The bonds, which are the reopening of the existing issues are series SPN12150108, FR0069, FR0070 and FR0071. The one-year bonds series SPN12150108 due on January 8, 2015 would be issued at a discounted yield, the statement said. 

The fixed rate bonds series FR0069 due on April 15, 2019 will be issued at a yield of 7.88 percent, the fixed rate bonds series FR0070 due on March 15, 2014 at a yield of 8.38 percent and the fixed rate bonds series FR0071 due on March 15, 2024 at a yield of 9.00 percent. 

The four series of state bonds will be put to an open auction organized by Bank Indonesia using a multiple price method. The statement said the government has the right to sell the four series of state bonds at higher or lower prices than the indicative target of 10 trillion IDR.

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