The local unit of ANZ Banking Group, PT Bank ANZ Indonesia, announced on Wednesday that it had sold Rp 2
he local unit of ANZ Banking Group, PT Bank ANZ Indonesia, announced on Wednesday that it had sold Rp 2.57 trillion (US$213 million) worth of government retail bonds (ORI), the highest level of sales among foreign banks that are selling agents of ORI.
ANZ Indonesia consumer banking vice president director Ajay Mathur said the achievement showed that the bank's retail business, customer base and branding were getting stronger.
'We are proud to be an important partner for the Indonesian government during its efforts to raise public funds to finance the state budget, which will support the country's economic development,' he said in a press statement.
Mathur said ANZ was appointed as one of the selling agents for the 11th issuance of ORI, code named 011, following its experience of previous appointments for the bonds.
Last year, Mathur said, ANZ sold Rp 1.93 trillion of ORI 010 for the 2013 state budget. The bank had also sold the government's Islamic retail bonds, code named SR 006, worth Rp 2.46 trillion, he added.
On Monday, the Finance Ministry's directorate general for debt management announced that the sales of ORI 011 had reached Rp 21.22 trillion as more individual investors were attracted to the high-yield debt papers.
The three-year bonds offered a 8.5 percent yield paid monthly starting on Nov. 15, a month after the maturity date on Oct. 15, due to the new regulation of a 'one coupon holding period' after the government listed them at the Indonesia Stock Exchange on Oct. 23.
The minimum order for ORI 011 is Rp 5 million and its multiples, while the maximum order is Rp 3 billion, with the coupon payment due on the 15th day of every month.
Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.
Thank you for sharing your thoughts. We appreciate your feedback.