February 28, 2017 / 8:20 AM / 6 months ago

Indonesia sells 16.35 trln rupiah bonds at auction, above target

JAKARTA, Feb 28 (Reuters) - Indonesia sold 16.35 trillion rupiah ($1.23 billion) of bonds at an auction, above the indicative target of 15 trillion rupiah, the finance ministry's financing and risk management office said on Tuesday.

The T-bills maturing in June 2017 had a weighted average yield of 5.06894 percent and the T-bills which will mature in March 2018 has a weighted average yield of 5.99341 percent.

The bonds maturing in May 2022 had a weighted average yield of 7.28000 percent.

The weighted average yield for bonds maturing in May 2027 was 7.53982 percent, lower than 7.53988 percent at the last auction on Feb. 14.

The weighted average yield for bonds maturing in May 2036 was 8.11939 percent, higher than 8.10963 percent at the previous auction.

The bonds maturing in February 2044 had a weighted average yield of 8.42977 percent.

Total incoming bids were worth 35.26 trillion rupiah, higher than the 31.81 trillion rupiah worth of bids received in the auction on Feb. 14.

The highest bid-to-cover ratio was 3.13 for the bonds maturing in May 2022.

$1 = 13,336 rupiah Reporting by Nilufar Rizki; Editing by Jacqueline Wong

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