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Finance Ministry Committed to Developing Retail State Bonds

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The Finance Ministry, through the Directorate General of Financing and Risk Management (DJPPR), has committed to developing retail state bonds (ORI), such as the SBR012 series, to expand people’s access to financial instruments.

"Of course, the government continues to be committed to developing the good instrument as an education of financial inclusion and expanding access to the financial instrument for the community," said Director General of PPR, Suminto, at the launch of SBR012-T2 and SBR012-T4 in Jakarta on Saturday.

The introduction of new features in SBR012, both in the context of a longer tenor and larger nominal purchase threshold, is intended to meet the varied needs of retail investors, he added.

There are two types of new features in SBR012—SBR012-T2 with a tenor of two years and SBR012-T4 with a tenor of four years.

The offered bonds are scripless state bonds. They cannot be traded in the secondary market, and they cannot be liquidated before maturity, except for early redemption.

The maturity date for SBR012-T2 is February 10, 2025, and SBR012-T4 is February 10, 2027. While the minimum order value of the bonds is Rp1 million, their maximum order value is different: Rp5 billion for SBR012-T2 and Rp10 billion for SBR012-T4.

SBR also provides quite competitive yields. From the tax perspective, it is subject to a tax rate of 10 percent, lower than that for several other financial instruments currently.

"We hope the issuance of SBR012 or the government securities (SBN) this year will continue to be successful, and in this case, we will definitely continue to provide easy access for the public to place orders and purchase the SBN, both through distribution expansion and through easy access to online transactions," Suminto said.

Earlier, the government planned to issue retail state bond instruments (ORI) of SBR012-T2 and SBR012-T4 series, which would be offered online (e-SBN) with coupons above 6 percent.​​​​​​​

DJPPR of the Finance Ministry has said that the retail bonds’ offering period will be from 9 a.m. (Western Indonesia Time) on January 19, 2023, to 10 a.m. on February 9.

Both coupons of the retail bonds offered are floating, with the floor rate set at the benchmark interest rate of the Bank Indonesia (BI).

Coupon payments will be made on the 10th of each month, with the first payment on March 10, 2023 (short coupon). If the coupon payment date does not fall on a business day, then the payment will be made on the following business day without interest compensation. (Antaranews)

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