ORI028 has two tranches: (1) ORI028T3 with a three-year tenor has an annual coupon of 5.35 percent, and (2) ORI028T6 with a six-year tenor that has a 5.65 coupon. Both involve fixed coupons, and can be traded in the secondary market.

The minimum investment value for both tranches is IDR 1 million, while the maximum investment value is IDR 5 billion (approx. USD $300,000) for ORI028T3 and IDR 10 billion (approx. USD $600,000) for ORI028T6.

This ORI028 ibond is the seventh retail bond issued by the Directorate General of Financing and Risk Management (DJPPR) of Indonesia's Ministry of Finance so far in 2025. Earlier this month, the Retail Sukuk series SR023 closed its offering on 15 September 2025.



Although Indonesia's central bank (Bank Indonesia) has been cutting its benchmark interest rate (which now stands at 4.75 percent), Acting Director of State Debt at DJPPR, Novi Puspita Wardani, said the Indonesian government is confident that the ORI028 investment instrument will be absorbed by the market.

ORI028 is expected to benefit from the maturity momentum of ORI022 on 15 October 2025 as a significant amount of the money is expected to be reinvested into ORI028. Moreover, there has been a growth trend in the number of retail investors amid strengthening awareness of the importance of financial planning in Indonesia.

Bahas