Indonesia Raises 100b Yen From Samurai Bonds

Japanese yen notes are piled up after counting at a bank during a photo opportunity in Seoul. (Reuters Photo/Lee Jae-Won)

By : Dion Bisara | on 5:04 PM June 15, 2016
Category : Business, Banking/Finance

Jakarta. The Indonesian government has raised 100 billion yen ($942 million) from the sale of yen-dominated bonds to Japanese institutional investors, as part of its efforts to plug this year's budget deficit, the Ministry of Finance said in a statement on Wednesday (15/06).

The so-called samurai bonds were sold in a private placement, raising 62 billion yen on three-year bonds with a coupon at 0.83 percent and 38 billion yen on five-year bonds with a 1.16 percent coupon.

This was Indonesia's first issuance without guarantees from the Japan Bank for International Cooperation (JBIC), but it managed to attract bids from Japanese banks, community bank, public funds, insurance companies and asset managers, the finance ministry said.