Government To Sell Rp8 Trillion Worth Of Bonds

Jakarta, March 28(Antara) - The government plans to sell a state bond to raise Rp8 trillion in local currency next week. The bond fund would be used to help finance the 2014 state budget, a release from the Debt Management Directorate General of the Finance Ministry said. The bonds will have a nominal value of Rp1 million per piece in five series - SPN03140703 (new issuance), SPN12150403 (new issuance), FR0069, FR0070 and FR0068 (old ones). The interest payment on the SPN03140703 and SPN12150403 would be with discount and the rest will carry a fixed interest rate of 7.88 - 8.38 percent per year. The bonds would be due for repayment from 3 July of 2014 to 15 March of 2034. The sales would be through an open auction held by Bank Indonesia.