Image: Reuters Berita 24 English - The finance ministry announced late Thursday that Indonesia had earned 81 billion yen ($624.18 million)...
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| Image: Reuters |
The bond offering occurred just a week after the government issued $3.25 billion in Islamic bonds in its largest-ever sukuk issuance.
The sale of three-year notes with a 0.96 percent coupon for 68.2 billion yen was the largest element of the Samurai bonds deal.
Jakarta also sold 5.1 billion yen in five-year bonds with a 1.13 percent rate, 1.7 billion yen in seven-year bonds with a 1.27 percent coupon, and 6 billion yen in 10-year notes with a 1.45 percent coupon.
The sale was the largest by a sovereign issuer in the Japanese debt market this year, according to the finance ministry, despite rough global market circumstances caused by global monetary tightening and escalating geopolitical tensions.
Due to a rising budget for energy subsidies and social security, Finance Minister Sri Mulyani Indrawati stated earlier this week that Indonesia had chosen to tap overseas debt markets for funding despite market instability.
"Although we have a budget surplus today," Sri Mulyani told reporters, "the increased subsidies and compensation... have not been factored in."
The minister was alluding to a $7 billion budget surplus in the January-April period, comparing it with recent adjustments to the 2022 budget following legislative acceptance of a $24 billion increase in energy subsidies.
"We're extremely opportunistic in observing that (the market) has been fairly stable for a few days and we move in," she said on Tuesday, just after Indonesia began promoting the Samurai bonds.
(1 dollar Equals 129.7700 yen)
