GOVT BUYS BACK RP10 BILLION WORTH OF STATE DEBENTURES

Jakarta, Dec 17 (ANTARA) - The government is buying back state debentures (SUN) worth Rp10 billion through direct transactions using the dealing room facility.

Finance ministry spokesman Harry Z. Soeratin said in Jakarta Thursday the direct SUN transactions took place Tuesday (Dec 15), and settlements on Thursday (Dec 17).

The direct SUN transactions were aimed at managing SUN portofolio by buying back state debentures on the secondary market.

The state debenture transactions on Tuesday covered a series of SUN of a nominal value of Rp 10 billion bought by the government.

The finance minister by the powers granted under Law no 24 of 2002 on state debentures, has set the proceeds of the direct SUN transactions.

The government has bought back 10,000 units of FR0016 series state debentures supposed to fall due on August 15, 2011, of a nominal value of Rp 10 billion at an average weighted rate of 106.90 percent.

The Rp 10 billion SUN directly bought back by the government had beed declared invalid.

The direct transaction took place under decree of the Minister of Finance no 170/PMK.08/2008 on Direct State Debenture Transactions.