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NEWS UPDATES 30 October 2010

Indo buys back state bonds

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The government bought back Rp391.44 billion worth of state bonds (SUNs) in the secondary market on October 29, a Finance Ministry official said here Friday.

Rahmat Waluyanto, the Finance Ministry`s debt management director general , said the direct buyback was done through the directorate general`s "dealing room" facility.

The government had bought back the bonds to straighten out its bonds [portfolio by reducing the number of bonds that were not liquid and of bonds with short maturity periods, he said.

Bought back were five state bonds, namely the Rp1.80 billion FR0017 SUN due on January 15, 2012 with a weighted average of 108.9 percent price, the Rp4.00 billion FR0023 due on December 15, 2012 with 109.85 percent of the price, the Rp150 billion FR0019 due on June 15, 2013 at 119.90 percent price.

The two other were FR0049 series of Rp130.64 billion (due on 15 September 2013) with 107.61 percent of the price, and FR0020 amounting to Rp105 billion (due on December 15, 2013) with 122.75 percent of the price.

The results of this direct transaction settlement would be announced on November 1, in accordance with existing regulations.

The government also stated that the bonds were bought back through a direct transaction at Rp391, 44 billion had been paid off and were no longer valid.

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