Indonesia to buy back 1.16 billion USD worth of global bonds
Indonesia has decided to buy back 1.16 billion USD worth of global bonds after launching a tender offer for a repurchase for the first time, below an amount it indicated last week, the Ministry of Finance said on September 21.
Indonesia has decided to buy back 1.16 billion USD worth of global bonds after launching a tender offer for a repurchase for the first time. (Photo: VNA)The Southeast Asian country offered to repurchase a maximum of 1.25 billion USD worth of bonds maturing between 2022 to 2026 last week, using the proceeds from a new bond sale of 10-year and 40-year maturities, Reuters reported.
Indonesia received a total of 2.68 billion USD in instructions after the tender offer, but rejected some of them, without citing a reason, according to a statement from the Ministry of Finance's debt office.
The offers it accepted were for the repurchase of bonds maturing between 2022 to 2024, it said.
The debt office said the country’s inaugural "liability management exercise" was intended to extend the sovereign’s debt maturity profile and reduce interest expense./.
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