JAKARTA: Indonesia sold 18 trillion rupiah ($1.38 billion) of bonds at an auction on Tuesday, well above the indicative target of 12 trillion rupiah, the finance ministry's financing and risk management office said.

The t-bills maturing in October 2016 had a weighted average yield of 5.34465 percent, while the t-bills maturing in July 2017 had a weighted average yield of 6.14615 percent.

The weighted average yield for bonds maturing in July 2021 was 6.85354 percent, lower than 7.46981 percent at the previous auction on June 21.

Bonds maturing in September 2026 had a weighted average yield of 7.08588 percent.

The weighted average yield for bonds maturing in May 2036 was 7.47993, lower than the previous sales of 7.91964 percent.

Total bids were 46.85 trillion rupiah, almost triple of 17.53 trillion rupiah received in the previous auction.

The highest bid-to-cover ratio was 5.06 for the bonds maturing in July 2021.

Copyright Reuters, 2016