Indonesia's ORI030 Bonds Exceed 87% of Target in 10 Days

Indonesia's Ministry of Finance has reported significant investor enthusiasm for the Retail State Bonds series 030 (ORI030), which launched on July 6, 2026. As of Thursday, July 16, sales have reached Rp 21.9 trillion, surpassing 87% of the initial target, with the offering period not closing until July 30.

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The realization for ORI030 sales, as of this afternoon (Thursday, July 16, 2026), has reached Rp 21.9 trillion. The offering period is until July 30, still half over. Our target is Rp 25 trillion.

Chandra A.S. Wibowo, Senior Analyst for State Financial Management at the Ministry of Finance, stated that the realization of ORI030 sales reached Rp 21.9 trillion by 4:00 PM WIB on July 16. This figure is substantial, given the target of Rp 25 trillion and the fact that the offering period is only halfway complete. The initial indicative target for ORI030 was Rp 20 trillion, which the Ministry later raised to Rp 25 trillion due to strong public and investor interest in State Securities (SBN).

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In this economy, volatility is very high, so what do investors look for? First: security, second: certainty, and third: flexibility. Retail SBN, one of them, ORI030, has these three components.

Wibowo noted that the Ministry might further increase the quota depending on market conditions over the next few days. He highlighted that ORI030 is particularly suitable for the current economic climate, characterized by high volatility in the first half of 2026. He emphasized that SBN retail products like ORI030 offer three key components investors seek: security, certainty, and flexibility.

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The risk of default can be said to be close to zero. As long as this country still stands, and this is what we are all protecting.

Regarding security, Wibowo explained that ORI030 is guaranteed by law, meaning it will not default as long as the Republic of Indonesia exists. The risk of default is considered near zero. For certainty, ORI030 offers a fixed yield of 6.9% for a three-year tenor and 7% for a six-year tenor, which are considered very competitive compared to other retail SBNs. Furthermore, the tax rate on the interest income (PPh 21) is only 10%, significantly lower than the 20% tax on deposits. Wibowo also pointed out that, based on two decades of SBN retail track record, coupon payments have always been punctual.

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So, ORI030 or retail SBN in general, in terms of yield, offers a higher level, but in terms of tax deduction, it is lower.