January 31, 2017 / 8:31 AM / 2 years ago

Indonesia sells 22 trillion rupiah bonds at auction, above target

JAKARTA, Jan 31 (Reuters) - Indonesia sold 22 trillion rupiah ($1.65 billion) of bonds at an auction, above the indicative target of 15 trillion rupiah, the finance ministry’s financing and risk management office said on Tuesday.

The T-bills, maturing in May 2017, had a weighted average yield of 5.02014 percent, while the T-bills which will mature in February 2018 has a weighted average yield of 5.90243 percent.

The bonds maturing in May 2022 has a weighted average yield of 7.28987 percent.

The weighted average yield for bonds maturing in May 2027 was 7.62988 percent, higher than 7.50995 percent at the previous auction on Jan. 17.

The bonds maturing in August 2032 had a weighted average yield of 7.99964 percent, higher than last auction’s 7.79936 percent.

Total incoming bids were worth 49.44 trillion rupiah, lower than the 53.69 trillion rupiah worth of bids received in the auction on Jan. 17.

The highest bid-to-cover ratio was 3.51 for T-bills maturing in May 2017.

$1 = 13,342 rupiah Reporting by Nilufar Rizki; Editing by Sherry Jacob-Phillips

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