Indonesia launches SBR015 retail government bonds

The Indonesian government has launched the offering for two series of Savings Bond Ritel (SBR015), specifically SBR015T2 and SBR015T4. The offering period runs from September 28, 2026, to October 22, 2026, via online platforms.

SBR015T2 features a 2-year tenor with an initial coupon rate of 6.75% per annum, while SBR015T4 offers a 4-year tenor with an initial coupon rate of 6.85% per annum. Both series utilize a ‘floating with floor’ coupon scheme, where rates are adjusted every three months based on the Bank Indonesia reference rate.

Investment minimums are set at Rp1 million. Maximum purchase limits are Rp5 billion for the SBR015T2 series and Rp10 billion for the SBR015T4 series. These bonds are non-tradable in the secondary market but include an ‘early redemption’ option. For SBR015T2, the redemption window is scheduled for late October 2027, and for SBR015T4, it is scheduled for late October 2028, allowing investors to redeem up to 50% of their transactions.