Indonesia to Auction Nine Rupiah Bond Series, Targets Up to Rp 49.5 Trillion
Jakarta. Indonesia will auction nine series of rupiah-denominated government bonds this Wednesday as part of efforts to meet its 2026 state budget financing needs, with proceeds targeted at up to Rp 49.5 trillion ($2.9 billion).
The auction forms part of the government’s broader domestic borrowing strategy to fund its fiscal program for 2026 amid ongoing efforts to balance growth support with debt sustainability.
According to the Finance Ministry’s debt management office, the indicative target for the auction is Rp 33 trillion ($1.9 billion), with a maximum absorption set at 150% of that amount.
The auction will be conducted by Bank Indonesia using an open auction system and multiple-price method. Bidding will run for two hours starting at 9 a.m. Jakarta time, with each bond unit priced at Rp 1 million.
Results will be announced on the same day, while settlement is scheduled for Feb. 20, or two business days after the auction.
The government bonds — known locally as Surat Utang Negara (SUN) — will be offered in nine tranches, comprising both new issuances and reopenings across short- and long-term maturities:
- SPN01260322 (new issuance), maturing March 22, 2026, discount yield
- SPN03260521 (new issuance), maturing May 21, 2026, discount yield
- SPN12270204 (reopening), maturing Feb. 4, 2027, discount yield
- FR0109 (reopening), maturing March 15, 2031, coupon 5.87%
- FR0108 (reopening), maturing April 15, 2036, coupon 6.50%
- FR0106 (reopening), maturing Aug. 15, 2040, coupon 7.12%
- FR0107 (reopening), maturing Aug. 15, 2045, coupon 7.12%
- FR0102 (reopening), maturing July 15, 2054, coupon 6.87%
- FR0105 (reopening), maturing July 15, 2064, coupon 6.87%
as a preferred
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