Addin Anugrah Siwi, Jakarta – The government aims to raise up to Rp 25 trillion ($1.49 billion) from the sale of Retail Government Bonds (ORI) series ORI029, with all proceeds earmarked to help finance the 2026 state budget (APBN).
"From the sale of ORI029, the government is targeting Rp 25 trillion for the state budget," Novi Puspita Wardani, acting director of government bonds at the Ministry of Finance, said during a media briefing in Jakarta on Monday.
ORI029 is the first retail government bond issuance this year. It comes in two tenors: ORI029T3 with a three-year maturity and ORI029T6 with a six-year maturity. Both offer fixed-rate coupons paid monthly directly to investors' bank accounts.
"For the six-year tenor, the coupon is 5.8% per year until Feb. 15, 2032. For the three-year tenor, the coupon is 5.45% per year until Feb. 15, 2029," Novi said.
The offering period runs from Jan. 26, 2026, at 9 a.m. Jakarta time until Feb. 19, 2026, at 10 a.m. The minimum subscription is set at Rp 1 million, making the instrument accessible to retail investors, including first-time investors and younger participants.
"The minimum is Rp 1 million. I think for young people who are just starting to invest, it is affordable," she added.
ORI029 is also tradable, allowing investors to sell the bonds on the secondary market after completing a minimum holding period of one coupon payment. This feature opens up opportunities for capital gains if the bonds are sold at a higher price.
"These ORIs are tradable. After the holding period, just one coupon payment, they can already be traded. There is also potential upside if the selling price is higher," Novi said.
To ensure broader access, the government has capped maximum purchases. Retail investors may buy up to Rp 5 billion for the three-year series and up to Rp 10 billion for the six-year series, a measure aimed at preventing domination by large investors.
ORI029T3 will mature on Feb. 15, 2029, with a fixed annual yield of 5.45%. It can be traded on the secondary market starting April 16, 2026, after the first coupon payment on April 15, 2026. The minimum order is Rp 1 million, with a maximum of Rp 5 billion per investor.
Meanwhile, ORI029T6 carries a higher fixed coupon of 5.8% per year and will mature on Feb. 15, 2032.
During the offering period, investors can subscribe through 28 appointed distribution partners, comprising 18 commercial banks, six securities firms, and four digital investment platforms.
The banking partners include BNI, BRI, Bank Mandiri, BTN, BCA, Bank Mega, Danamon, Permata Bank, HSBC, OCBC, CIMB Niaga, Panin Bank, SMBC, DBS, Bank Victoria, UOB, Standard Chartered, and Maybank. Securities firms involved are Mandiri Sekuritas, BRI Danareksa Sekuritas, BNI Sekuritas, Trimegah Sekuritas, Panin Sekuritas, and Phillip Sekuritas Indonesia, while digital platforms include Bibit, Bareksa, Tanamduit, and FUNDtastic.
Beyond personal returns, Novi said investing in ORI also supports national development.
"Investors do not only benefit personally, but also help finance the state budget. So there is a social return as well," she said.
Source: https://jakartaglobe.id/business/indonesia-offers-new-retail-bonds-with-up-to-58-annual-return