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Jakarta Post

Government targets millennials in new retail bond issuance

  • News Desk

    The Jakarta Post

Jakarta   /   Sun, July 14, 2019   /  05:02 pm
The Jakarta Post Image
An official of state-owned Bank Rakyat Indonesia (BRI) monitors transactions of government bonds in the bank's dealing room. The Finance Ministry expects to raise Rp 2 trillion (US$142.5 million) from two-year retail bonds SBR007 series currently being offered to the public.(JP/File)

  The Finance Ministry is expecting more domestic investors, especially millennials, to purchase its two-year retail saving bonds series 007 (SBR007), which are available to the public from July 11 to 25. "From the past retail saving bonds offered online, we saw a change in our investor profiles. New investors, especially millennials, dominated the purchase of the bonds. We are expecting the same thing to will happen in this issuance,” the ministry’s financing and risk management director general, Luky Alfirman, said in Jakarta on Thursday. Luky said the SBR007 bonds, which have a total value of Rp 2 trillion (US$142.5 million), were being offered with minimum and maximum purchases of Rp 1 million and Rp 3 billion, respectively, and could not be traded on the secondary market. The bonds will mature on July 10, 2021, but the ministry will allow an early r...