Govt to issue Rp3 trillion bonds

Jakarta (ANTARA News) - The Indonesian government plans to issue rupiah-denominated bonds worth Rp3 trillion through an auction scheduled for January 22, 2008, a Finance Ministry official said.

Proceeds from the issuance of bonds would be used to meet part of the financing target in the 2008 state budget, Samsuar Said, chief of the ministry`s public relations bureau, said on Tuesday.

The fixed rate bonds up for auction will be FR0050 series due on July 15, 2038 and FR0046 series due on July 15, 2023. The two types of bonds will have a par value of Rp1 million.

The interest on the bonds will be paid twice a year on January 15 and July 15.