GOVT TO SELL STATE BONDS WORTH RP5 TRILLION

Jakarta, March 18 (ANTARA) - The government is planning to sell four series of state debentures (SUN) through an auction on March 23, 2010, with a total indicative value of Rp5 trillion, a financial official said.

Chief Spokesman of the Finance Ministry Harry Z. Soeratin said here on Thursday that the proceeds of the state debentures would partly be used to cover the 2010 State Budget deficit.

"The auction will be carried out on March 23, 2010 with a total indicative value of Rp5 trillion. Some of the proceed which is in the rupiah will be used to finance the 2010 state budget deficit," he said.

The state bond series are series SPN20110303 carrying one year tenure (maturity date on March 3, 2011) with a dividend payable in the form of discounts, series FR0040 (reopening) with a fixed rate of 11 percent, maturity date on September 15, 2015 and a coupon payable on every March 15 and September 15, series FR0052 (reopening) with a fixed rate of 10.50 percent, maturity date on August 15, 2030, a coupon payable on every February 15 and August 15, and series FR0050 (reopening) with a fixed rate of 10.50 percent, maturity on July 15, 2038 and a coupon payable on every January 15 and July 15.***