Government Offers SBR006 with a Minimum Coupon Rate of 7.95%

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02/04/2019 12:42 WIB

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The coupon rate for SBR006 is the lowest in the last four offerings.

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Government Offers SBR006 with a Minimum Coupon Rate of 7.95%

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Retail Savings Bond Coupon (2014-2019)

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From April 1st to 16th, 2019, the government offered Retail Savings Bonds (SBR006) with a minimum coupon rate of 7.95%. This retail bond coupon is derived from the BI 7-day Reserve Repo Rate benchmark interest rate of 6%, plus a given spread of 195 bps (1.95%). If the benchmark interest rate rises, the SBR006 coupon will rise; however, if the BI 7-day rate falls, the SBR coupon will remain at 7.95%.

This SBR006 coupon rate is the lowest in the last four offerings, as shown in the graph below. The highest initial coupon rate was recorded in the issuance of SBR001 (May 2014), reaching 8.75%. Minimum individual orders for SBR006 are Rp 1 million and maximum orders are Rp 3 billion.

As is known, the initial SBR coupon rate used the Deposit Insurance Institution (LPS) interest rate, but starting with SBR003, the BI 7-day rate has been used as the benchmark.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."