Indonesia raises 27.4trn rupiah from sales of retail bonds c

JAKARTA: Indonesia's finance ministry said on Monday it raised 27.439 trillion rupiah ($2.03 billion) from retail bonds sold between Sept. 21 to Oct. 15, higher than its target of 20 trillion rupiah.

The three-year bonds were sold with a coupon of 9.00 percent per annum, and a two-month minimum holding period. Retail bonds that were sold last year had the same tenure and a coupon of 8.50 percent.

A total of 45,298 individuals bought the bonds, including entrepreneurs, employees and housewives, the ministry said. A year earlier, the number was less than 33,000.

Loto Srinaita Ginting, the ministry's director of government securities, said investors were more interested in the bonds because interest rates for bank deposits have fallen.

Retail bonds are sold to domestic individual investors once a year.