Jakarta, CNBC Indonesia – The Ministry of Finance of the Republic of Indonesia changed several regulations regarding repurchase (buyback) state debt letter (SUN) or state securities letter (SBN).
In the Minister of Finance Regulation (PMK) No. 3 of 2021, concerning amendments to PMK No. 149 of 2018, several articles in the regulation have been amended.
One of them is Article 14, where in the previous regulation, Bank Indonesia (BI) is not included as the seller of SUN, but in this regulation, BI is included in the seller of SUN.
“SUN Buyback as referred to in paragraph (1) can only be made to BI, OJK, LPS, BPJS, BUMN, BLU, Regional Government, and / or Main Dealer, after the agreement of the terms and conditions (terms and conditions) on the SUN Sale Offer “write the description in Article 14 paragraph (2).
Meanwhile in Article 21 paragraph (1) there are additional points in the latest regulation. In the old regulation, Article 21 paragraph (1), there were only three points of consideration for the rejection of SUN sales offers.
However, in the latest regulation the provisions for rejection are added by one point so that the sound of Article 21 paragraph (1) can be explained as follows:
“Rejection of the SUN Sale Offer as referred to in Article 19 paragraph (2) letter b, may be carried out by considering, among others: SUN portfolio management strategy; government cash position; the price offered is not in accordance with benchmark prices determined by the Government; and / or no agreement is reached in further discussion on the SUN Sale Offer “.
Article 24 also changes the provisions, which in the new regulation, is a deadline settlement buyback SUN calculated from the date of agreement is extended by 5 days so as to read as follows.
“SUN Buyback Settlement shall be conducted no later than 10 (ten) working days after the agreement date, for transactions using the SUN Buyback method Bilateral Buyback“.
Meanwhile, the deadline as from the date of the auction and the determination of the results is still the same as the old regulation, which is no later than 5 (five) working days.
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