Govt to repurchase bonds next week<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The government is to repurchase bonds maturing between May 25,
\n2004 and Dec. 15, 2010 through an open auction on March 25, it
\nstated in a press release on Thursday.<\/p>\n
The buy-back move is part of the government's efforts to
\nredeem maturing bonds, of which Rp 21.1 trillion has been
\nearmarked for this purpose under the 2004 state budget.<\/p>\n
The release added that so far, 19 local and foreign financial
\ninstitutions had registered as auction participants: Bank Central
\nAsia, Bank Niaga, Bank Buana Indonesia, Bank Danamon, Bank Mega,
\nBank Lippo, Bank Panin, Bank Mandiri, Bank Negara Indonesia, Bank
\nRakyat Indonesia, Citibank NA, HSBC, Deutsche Bank, Standard
\nChartered, ABN Amro, Trimegah Securities Tbk, Mandiri Sekuritas,
\nDanareksa Sekuritas and Bahana Securities.<\/p>\n
The buy-back strategy aims to help reduce the burden of the
\nstate budget in covering interest and principals on the
\ngovernment's domestic debts, which arose from the Rp 450 trillion
\nin bonds issued to bail out banks during the financial crisis
\nthat hit in 1997.<\/p>\n
Part of the buy-back program is funded by bond issuance
\nproceeds, targeted to reach Rp 32.5 trillion this year. The new
\nbonds are expected to carry a lower interest rate than those
\nissued in the wake of the crisis.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/govt-to-repurchase-bonds-next-week-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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