Finance Ministry Targets Rp 36 Trillion in Government Bond Auction Next Week

The Ministry of Finance (Kemenkeu) will once again hold an auction of Government Bonds (SUN) on Tuesday, 28 April 2026. The auction offers nine series with coupon rates up to 7.125 percent and is auctioned in units of Rp 1 million each.

The offering of these government-issued bonds is targeted to raise Rp 36 trillion. In the previous auction on 31 March 2026, bids reached Rp 78.4 trillion, and the government decided to absorb Rp 42 trillion.

Quoting the official website of the Directorate General of Financing and Risk Management of the Ministry of Finance, this rupiah-denominated SUN auction is to fulfil part of the financing target in the 2026 State Revenue and Expenditure Budget (APBN).

The nine series of SUN to be auctioned are: SPN01260530 (New Issuance); SPN12260730 (Reopening); SPN12270429 (New Issuance); FR0109 (Reopening); FR0108 (Reopening); FR0106 (Reopening); FR0107 (Reopening); FR0102 (Reopening); and FR0105 (Reopening).

The sale of these bonds will be conducted using an auction system organised by Bank Indonesia. The auction is open and uses the multiple price method. Winners submitting competitive bids will pay according to the yield they proposed.

Winners submitting non-competitive bids will pay according to the weighted average yield from the winning competitive bids. The government reserves the right to sell the nine SUN series for more or less than the indicative amount set. The maximum that can be won could reach 150 percent of the indicative target of Rp 36 trillion.

The government bond offering is part of budget financing and also covers the 2026 APBN deficit, which is targeted at Rp 689.1 trillion. Based on the 2026 state revenue and expenditure budget law or Law No. 17 of 2025, this year’s debt financing is targeted at Rp 832.2 trillion. This figure is an increase from last year’s target of Rp 775.9 trillion.