JAKARTA May 23 Indonesia sold 14 trillion
rupiah ($1.05 billion) of bonds, above the indicative target of
12 trillion rupiah, at the first auction after Standard & Poor's
(S&P) upgraded Indonesia's sovereign bond ratings to investment
grade, the finance ministry's financing and risk management
office said on Tuesday.
S&P upgraded Indonesia to investment grade on Friday,
sending Jakarta shares and government bond prices rising.
The other two main rating agencies, Fitch and Moody's,
upgraded Indonesia to investment grade more than five years
The government sold t-bills maturing in August 2017 with a
weighted average yield of 4.95988 percent, lower than 4.97260
percent at the last auction on May 9.
The T-bills maturing in February 2018 had a weighted average
yield of 5.60900 percent.
The weighted average yield for bonds maturing in May 2027
was 6.92116 percent.
The bonds maturing in August 2032 had a weighted
average yield of 7.35253 percent, lower than previous auction's
Tuesday's weighted average yield for bonds maturing in May
2036 was 7.57683 percent, lower than 7.82987 percent
from the May 9's auction.
Total incoming bids were 43.87 trillion rupiah, nearly
double the 24.19 trillion rupiah received at the last auction.
The highest bid-to-cover ratio was 4.46 for the bonds
maturing in May 2027.
Fund managers say the investment grade from S&P will give
Indonesia access to a wider pool of investors.
($1 = 13,303 rupiah)
(Reporting by Nilufar Rizki; Editing by Richard Borsuk)