The government only set an initial target of ST007 savings sukuk of Rp 2 trillion

ILLUSTRATION. The offering period for the ST007 series savings sukuk has officially opened today, Wednesday (4/11).

Reporter: Hikma Dirgantara | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. The offering period for the ST007 series savings sukuk has officially opened today, Wednesday (4/11). ST007 is the last retail bond issued by the government this year. Previously, the government had issued SBR009, SR012, ORI017, SR013, and ORI018.

Of the five retail bonds, the SR013 series was the most interested. At that time, SR013 managed to book sales of IDR 25.67 trillion. Meanwhile, of the five series that have been published, the government has managed to pocket Rp 71.36 trillion in funds.

ST007 offers a yield of 5.5% with the scheme floating with the floor. This series has a two-year tenor, so it will mature on November 10, 2022.

Director General of Sharia Financing, Directorate General of Financing and Risk Management of the Ministry of Finance Dwi Irianti Hadiningdyah said the initial target for ST007 this time was not like the previous series. Usually, the government sets the initial target for retail bonds of IDR 5 trillion.

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“For ST007, the government only set an initial target of Rp. 2 trillion. But if it can be more than the target, the possibility to upsize the target is also open. Consideration of the Rp 2 trillion target because this is already towards the end of the year, plus the nature of the ST007 non-tradable, “Said Dwi to Kontan.co.id, Wednesday (4/11).

ST007 cannot be traded on the secondary market, however, investors can early redemption when ST007 has been in hand for a year. As for the opening date early redemption will start on October 26, 2021 and close on November 4, 2021. Temporary dates early redemption conducted on November 10, 2021. It’s just that, early redemption has a maximum value of 50% of each purchase transaction of ST007.

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Even though the initial target was not as big as usual, Dwi is quite sure that there will still be quite a large demand for ST007, especially among millennial investors. He reflected on the data that shows since 2018 when retail bonds can be given online, the trend of millennial investors has continued to increase.

“Before going online, the number of millennial investors in retail bonds was only 13%, then in 2018 once they were online it immediately rose 45%. Last year it also increased to 51%, we are optimistic that this year the number will increase again if we look at the trend of buying retail bonds so far, “Dwi added.

Dwi hopes, with the improving investment climate in Indonesia, in the future the world of investment in Indonesia can be even more sustain.

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