Jakarta (ANTARA News) - The government has auctioned off four series of state bond valued at Rp8.5 trillion.

The auction on Tuesday was oversubscribed almost twice as high with offers received from investors reaching Rp16.3 trillion, a spokesman of the finance ministry Yudi Pramadi said.

Yudi said in a statement here the bond funds will be used to help finance the 2013 state budget.

The four series of bonds included SPN12140116, FR0066 , FR0063 and FR0064 .

The government raised Rp1 trillion from SPN12140116 series, with demands reaching Rp4.7 trillion.

The series with maturity on Jan. 16 in 2014, has an average weighted yield of 4.32719 percent.

The FR0066 series to carry a coupon rate of 5.25 percent and an average weighted yield of 4.6732 percent was sold at Rp2.15 trillion with demand reaching Rp2.32 trillion and maturity on May 15, 2018.

From the auction of the FR0063 series, the government earned Rp2.7 trillion with demand reaching RpRp5.53 trillion.

The series carries a coupon rate of 5.625 percent with average weighted yield of 5.21054 percent and maturity on 15 May 2023.

From the auction of the FR0064 series, the government earned Rp2.65 trillion with demands reaching Rp3.79 trillion.

The series carries a coupon rate of 6.125 percent and average weighted yield of 5.91997 percent with maturity on 15 May, 2028.

The funds raised from the auction exceeded the target of Rp7 trillion set by the government yesterday . (*)

Editor: Heru Purwanto
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