DAILY FAIR PRICE & YIELD

INDONESIA GOVERNMENT SECURITIES

February 28, 2020

13001
INDONESIA GOVERNMENT BONDS YIELD CURVE Tenor Yield (%)
28-Feb-20 (Year) 28-Feb-20 27-Feb-20 21-Feb-20 28-Jan-20
0.1 4.0233 3.9951 4.0594 4.2416
PHEI Yield Curve 1
2
4.7078
5.2138
4.6299
5.1322
4.6596
5.1105
5.0123
5.5447
3 5.5920 5.5102 5.4383 5.8884
8.50 4 5.9032 5.8101 5.6968 6.1265
8.00 5 6.1737 6.0591 5.9154 6.3072
7.50 6 6.4134 6.2730 6.1094 6.4573
7 6.6258 6.4607 6.2859 6.5910
7.00
28-Jan-20
8 6.8119 6.6272 6.4482 6.7147
6.50 9 6.9726 6.7753 6.5970 6.8310
Yield (%)

21-Feb-20
6.00 10 7.1093 6.9070 6.7328 6.9405
27-Feb-20 11 7.2239 7.0236 6.8553 7.0428
5.50
28-Feb-20 12 7.3186 7.1261 6.9649 7.1374
5.00 13 7.3960 7.2157 7.0619 7.2238
4.50 14 7.4585 7.2935 7.1469 7.3017
4.00 15 7.5085 7.3605 7.2207 7.3713
0 5 10 15 20 25 30 16 7.5481 7.4180 7.2843 7.4328
Maturity (Year) 17 7.5793 7.4669 7.3386 7.4866
18 7.6036 7.5083 7.3847 7.5333
19 7.6226 7.5432 7.4235 7.5734
Penilai Harga Efek Indonesia (PHEI) 20 7.6371 7.5724 7.4561 7.6077
GOVERNMENT BONDS BENCHMARK RATES 21 7.6483 7.5968 7.4833 7.6369
February 28, 2020 22 7.6569 7.6170 7.5058 7.6615
Benchmark 28-Feb-20 27-Feb-20 21-Feb-20 28-Jan-20 23 7.6634 7.6337 7.5245 7.6821
Maturity
Series Yield (%) Price (%) Yield (%) Price (%) Yield (%) Price (%) Yield (%) Price (%) 24 7.6683 7.6475 7.5398 7.6994
15-Jun-2025 FR0081 6.1167 101.7000 5.8816 102.7688 5.6430 103.8774 6.0576 101.9965 25 7.6721 7.6589 7.5523 7.7138
15-Sep-2030 FR0082 6.8710 100.9515 6.7057 102.1950 6.4990 103.7801 6.6959 102.2750 26 7.6749 7.6682 7.5626 7.7257
15-Jun-2035 FR0080 7.5027 99.9593 7.2524 102.2500 7.0043 104.5959 7.1470 103.2500 27 7.6770 7.6757 7.5709 7.7355
15-Apr-2040 FR0083 7.4605 100.3947 7.3645 101.3973 7.2414 102.7058 7.3547 101.5000 28 7.6785 7.6819 7.5777 7.7436
29 7.6797 7.6869 7.5832 7.7502
30 7.6806 7.6910 7.5876 7.7556

Please see important disclaimer at the back of this report. Page 1/1802
 DAILY FAIR PRICE & YIELD
INDONESIA GOVERNMENT SECURITIES
Fixed Rate (FR), Obligasi Ritel Negara (ORI) & Zero Coupon (ZC)
February 28, 2020

Date : 28-Feb-20

Bond 28-Feb-20 27-Feb-20 21-Feb-20 28-Jan-20

Time To
No Changes
Series Maturity Yield (%) Price (%) Yield (%) Price (%) Yield (%) Price (%) Yield (%) Price (%)
(BPs)
(Year)
1 FR0031 0.72 4.5247 104.4693 -6.68 4.4560 104.5361 4.5085 104.6003 4.8722 104.7162
2 FR0034 1.30 4.8767 109.8098 -12.67 4.7968 109.9365 4.8196 110.0281 5.2446 109.9164
3 FR0035 2.30 5.3354 116.1186 -20.64 5.2556 116.3250 5.2239 116.5108 5.6924 115.8155
4 FR0037 6.55 6.5337 128.7248 -31.89 6.4836 129.0438 6.4557 129.2737 6.6727 128.1490
5 FR0039 3.46 5.7423 118.6267 -30.69 5.6576 118.9337 5.5694 119.3251 6.1701 117.5358
6 FR0040 5.55 6.3092 121.6536 -67.99 6.1811 122.3334 6.1385 122.6120 6.4051 121.4156
7 FR0042 7.38 6.6997 120.3909 -23.09 6.6650 120.6219 6.6156 120.9810 6.8123 119.8507
8 FR0043 2.38 5.5604 110.3043 -18.30 5.4873 110.4873 5.4969 110.5340 5.7213 110.2681
9 FR0044 4.55 6.0563 115.4571 -1.26 6.0552 115.4698 6.1499 115.1100 6.3365 114.4862
10 FR0045 17.22 7.5852 120.5932 -44.46 7.5448 121.0378 7.5083 121.4500 7.6833 119.5758
11 FR0046 3.38 5.8137 111.1506 -59.93 5.6318 111.7499 5.5473 112.0804 6.2437 110.0000
12 FR0047 7.97 6.8067 119.3798 -72.77 6.7009 120.1075 6.6821 120.2705 6.8682 119.1122
13 FR0050 18.39 7.6880 127.4165 -37.45 7.6562 127.7910 7.5525 129.0334 7.6862 127.5075
14 FR0052 10.47 7.1203 124.6340 -228.63 6.8535 126.9203 6.7942 127.4674 6.9981 125.8117
15 FR0053 1.38 4.9203 104.3786 -11.82 4.8399 104.4968 4.8583 104.5243 5.2895 104.1157
16 FR0054 11.38 7.1521 118.0567 -75.79 7.0648 118.8146 6.9761 119.6083 7.0881 118.7098
17 FR0056 6.55 6.5337 109.6731 -86.44 6.3797 110.5375 6.2119 111.5080 6.5437 109.7104
18 FR0057 21.22 7.6719 118.9803 10.07 7.6805 118.8796 7.6685 119.0284 7.7875 117.6468
19 FR0058 12.30 7.2840 107.7417 -198.33 7.0522 109.7250 6.9976 110.2078 7.1720 108.7351
20 FR0059 7.21 6.6678 101.8638 -97.52 6.4984 102.8390 6.3250 103.8557 6.6288 102.1066
21 FR0061 2.21 5.3015 103.4898 -17.30 5.2215 103.6628 5.1944 103.7464 5.6615 102.8333
22 FR0062 22.14 7.6579 86.4115 -36.39 7.6196 86.7754 7.6648 86.3412 7.8132 84.9324
23 FR0063 3.21 5.5368 100.2469 -20.31 5.4672 100.4500 5.3516 100.7923 5.7094 99.7402
24 FR0064 8.22 6.9872 94.6684 -125.78 6.7779 95.9262 6.4844 97.7230 6.7505 96.0635
25 FR0065 13.22 7.4109 93.4357 -97.43 7.2894 94.4100 7.0832 96.0922 7.2484 94.7225
26 FR0067 23.98 7.7170 111.2000 -82.74 7.6473 112.0274 7.6498 112.0035 7.8064 110.1633
27 FR0068 14.05 7.4234 108.2077 -115.71 7.2974 109.3647 7.0425 111.7648 7.2414 109.9104
28 FR0070 4.05 5.9166 108.7230 -35.44 5.8234 109.0774 5.5697 110.0700 6.1528 107.9833
29 FR0071 9.05 7.1150 112.4091 -75.65 7.0093 113.1656 6.7017 115.4168 6.8461 114.4294
30 FR0072 16.22 7.5557 106.4093 -123.05 7.4297 107.6398 7.2415 109.5188 7.4501 107.4589
31 FR0073 11.22 7.1990 111.7768 -36.84 7.1543 112.1452 6.8823 114.4269 6.9697 113.7448
32 FR0074 12.47 7.3571 101.1488 -153.64 7.1701 102.6851 7.0140 103.9964 7.2702 101.8650
33 FR0075 18.22 7.6083 98.9252 -89.40 7.5167 99.8192 7.3437 101.5403 7.4740 100.2400
34 FR0076 28.23 7.6233 97.1208 -40.99 7.5870 97.5307 7.4314 99.3205 7.5676 97.7500
35 FR0077 4.21 5.9640 107.9300 -72.83 5.7770 108.6583 5.5257 109.6742 6.0460 107.7500
36 FR0078 9.22 7.0042 108.3354 -94.12 6.8719 109.2766 6.5694 111.4790 6.7573 110.1646
37 FR0079 19.14 7.6248 107.4724 -141.19 7.4921 108.8843 7.3465 110.4674 7.4550 109.2978
38 FR0080 15.30 7.5027 99.9593 -229.07 7.2524 102.2500 7.0043 104.5959 7.1470 103.2500
39 FR0081 5.30 6.1167 101.7000 -106.88 5.8816 102.7688 5.6430 103.8774 6.0576 101.9965
40 FR0082 10.55 6.8710 100.9515 -124.35 6.7057 102.1950 6.4990 103.7801 6.6959 102.2750
41 FR0083 20.14 7.4605 100.3947 -100.26 7.3645 101.3973 7.2414 102.7058 7.3547 101.5000
42 ORI014 0.63 4.9812 100.5369 -5.40 4.8985 100.5908 4.9424 100.5787 5.1017 100.5241
43 ORI015 1.63 5.2171 104.7272 -12.03 5.1470 104.8475 5.1298 104.9245 5.8872 103.8450
44 ORI016 2.63 5.5411 103.0733 -18.12 5.4695 103.2545 5.4145 103.4123 5.8406 102.4030

Please see important disclaimer at the back of this report Page 2/1802
 DAILY FAIR PRICE & YIELD
INDONESIA GOVERNMENT BONDS
February 28, 2020

INDONESIA GOVERNMENT BONDS YIELD CURVE

28-Feb-20

Yield (%)
PHEI VR Yield Curve
Tenor
(Month) 28-Feb-20 27-Feb-20 21-Feb-20 28-Jan-20
8.00 0.03 4.6138 4.6081 4.7033 4.8647
1 5.0629 5.0749 5.0754 5.3941
2 5.0826 5.0895 5.1168 5.4476
7.00
3 5.1135 5.1156 5.1453 5.4554
28-Jan-20 4 5.1907 5.1910 5.2078 5.5007
Yield (%)

6.00 5 5.2794 5.2796 5.2859 5.5708

21-Feb-20
6 5.3557 5.3565 5.3598 5.6438
27-Feb-20
5.00 7 5.4122 5.4136 5.4201 5.7066
28-Feb-20 8 5.4504 5.4523 5.4649 5.7552
4.00 9 5.4747 5.4769 5.4962 5.7902
0 2 4 6 8 10 12 10 5.4895 5.4918 5.5171 5.8141
Maturity (Month) 11 5.4981 5.5006 5.5306 5.8298
12 5.5031 5.5056 5.5390 5.8399

Penilai Harga Efek Indonesia (PHEI)

VARIABLE RATES
February 28, 2020
28-Feb-20 27-Feb-20 21-Feb-20 28-Jan-20
Maturity Series
Yield (%) Price (%) Changes (BPs) Yield (%) Price (%) Yield (%) Price (%) Yield (%) Price (%)
25-Jul-2020 VR0031 5.0824 99.8215 0.42 5.0897 99.8173 5.1189 99.7937 5.4538 99.6386

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 DAILY FAIR PRICE & YIELD
INDONESIA GOVERNMENT SECURITIES
SURAT PERBENDAHARAAN NEGARA (SPN)
February 28, 2020

Date : 28-Feb-20

Surat Perbendaharaan Negara 28-Feb-20 27-Feb-20 21-Feb-20 28-Jan-20

No Time To Maturity Yield Changes Yield Yield Yield
Series Price (%) Price (%) Price (%) Price (%)
(Year) Equivalent (%) (BPs) Equivalent (%) Equivalent (%) Equivalent (%)
1 SPN-S 02042020 0.09 4.0323 99.6324 0.83 4.0053 99.6241 4.0822 99.5516 4.3383 99.2466
2 SPN-S 04032020 0.01 3.9579 99.9468 1.03 3.9399 99.9365 4.0190 99.8705 4.2575 99.5896
3 SPN-S 12082020 0.45 4.3361 98.0880 -1.29 4.2797 98.1009 4.3437 98.0048 - -
4 SPN-S 15052020 0.21 4.1373 99.1484 0.32 4.0988 99.1452 4.1719 99.0638 4.4523 98.7194
5 SPN-S 15072020 0.38 4.2761 98.4294 -0.72 4.2245 98.4366 4.2916 98.3446 4.6032 97.9378
6 SPN03200422 0.15 4.0819 99.4099 0.62 4.0493 99.4036 4.1245 99.3268 4.3921 99.0040
7 SPN03200519 0.22 4.1467 99.1024 0.26 4.1073 99.0998 4.1800 99.0176 - -
8 SPN12200313 0.04 3.9813 99.8504 0.99 3.9604 99.8405 4.0388 99.7725 4.2829 99.4843
9 SPN12200410 0.12 4.0523 99.5440 0.75 4.0230 99.5364 4.0992 99.4621 4.3600 99.1501
10 SPN12200508 0.19 4.1206 99.2286 0.42 4.0838 99.2244 4.1576 99.1443 4.4342 98.8066
11 SPN12200619 0.31 4.2183 98.7402 -0.24 4.1719 98.7426 4.2416 98.6548 4.5404 98.2754
12 SPN12200703 0.35 4.2497 98.5736 -0.50 4.2004 98.5786 4.2687 98.4884 4.5745 98.0944
13 SPN12200814 0.46 4.3404 98.0634 -1.33 4.2836 98.0767 4.3473 97.9804 4.6730 97.5408
14 SPN12200911 0.54 4.3981 97.7152 -1.93 4.3372 97.7345 4.3977 97.6348 4.7356 97.1635
15 SPN12201009 0.61 4.4539 97.3612 -2.55 4.3893 97.3867 4.4464 97.2843 4.7959 96.7803
16 SPN12201106 0.69 4.5078 97.0018 -3.19 4.4400 97.0337 4.4936 96.9291 4.8540 96.3917
17 SPN12210108 0.86 4.6225 96.1752 -4.64 4.5493 96.2216 4.5946 96.1145 4.9771 95.5000
18 SPN12210205 0.94 4.6709 95.8008 -5.28 4.5958 95.8536 4.6373 95.7464 - -

Please see important disclaimer at the back of this report Page 4/1802
 DAILY FAIR PRICE & YIELD
INDONESIA GOVERNMENT SECURITIES
SURAT BERHARGA SYARIAH NEGARA (SBSN)
February 28, 2020

Date : 28-Feb-20

Sukuk 28-Feb-20 27-Feb-20 21-Feb-20 28-Jan-20

Time To Yield Yield Yield Yield
No Changes
Series Maturity Equivalent Price (%) Equivalent Price (%) Equivalent Price (%) Equivalent Price (%)
(BPs)
(Year) (%) (%) (%) (%)
1 IFR0006 10.05 7.1579 121.8754 -165.48 6.9552 123.5301 6.7826 124.9851 6.9962 123.3155
2 IFR0007 4.88 6.1830 116.8926 -52.02 6.0717 117.4129 5.9339 118.1038 6.3408 116.4233
3 IFR0008 0.04 4.8927 100.1652 -1.39 4.8178 100.1791 4.6739 100.2517 4.5982 100.5252
4 IFR0010 15.98 7.5472 122.5334 -140.23 7.4168 123.9357 7.2839 125.4020 7.4363 123.7869
5 PBS002 1.88 5.1196 100.5785 -14.44 5.0391 100.7229 5.1946 100.4505 5.7103 99.5202
6 PBS003 6.88 6.9858 94.6779 -87.08 6.8195 95.5486 6.6434 96.4774 6.9663 94.7357
7 PBS004 16.98 7.8821 83.4780 -96.63 7.7647 84.4443 7.6316 85.5535 7.7888 84.2058
8 PBS005 23.14 7.6275 90.5202 -28.13 7.5994 90.8015 7.5069 91.7356 7.6206 90.5733
9 PBS006 0.55 4.5731 101.9497 -4.36 4.5106 101.9933 4.5658 102.0205 4.8890 102.0481
10 PBS007 20.56 7.6438 113.9361 -65.17 7.5867 114.5879 7.4725 115.9100 7.6271 114.1407
11 PBS011 3.46 5.8985 108.8137 -28.53 5.8131 109.0990 5.7238 109.4341 6.1825 108.0645
12 PBS012 11.72 7.5233 110.3817 -165.90 7.3238 112.0407 7.1585 113.4517 7.3437 111.9272
13 PBS014 1.21 5.2103 101.4853 -9.81 5.1297 101.5833 5.1523 101.5772 5.5543 101.1569
14 PBS015 27.39 7.7807 102.4555 0.78 7.7814 102.4478 7.6750 103.6842 7.9039 101.0665
15 PBS016 0.04 4.1434 100.0890 -0.70 4.1127 100.0960 4.1525 100.1275 4.3422 100.2366
16 PBS017 5.63 6.6771 97.4350 -60.74 6.5442 98.0424 6.3860 98.7688 6.7629 97.0056
17 PBS018 8.22 7.2445 102.3080 -120.93 7.0510 103.5174 6.8683 104.6815 7.1400 102.9813
18 PBS019 3.55 6.0017 107.0778 -29.01 5.9150 107.3679 5.8214 107.7079 6.2780 106.2999
19 PBS020 7.63 7.4859 108.6644 -114.39 7.2983 109.8084 7.1122 110.9728 7.4095 109.1987
20 PBS021 6.72 6.8717 108.6212 -90.87 6.7105 109.5298 6.5370 110.5355 6.8654 108.7435
21 PBS022 14.14 7.7000 107.8664 -151.59 7.5330 109.3823 7.3846 110.7593 7.5470 109.2806
22 PBS023 10.22 6.9833 108.2210 -152.98 6.7840 109.7507 6.6154 111.0772 6.8226 109.5055
23 PBS024 12.22 7.5548 106.4483 -161.54 7.3605 108.0637 7.1989 109.4399 7.3774 107.9555
24 PBS025 13.22 7.6983 105.5310 -157.11 7.5156 107.1022 7.3599 108.4724 7.5294 107.0087
25 PBS026 4.63 5.8691 103.0161 -42.69 5.7650 103.4431 5.7300 103.5973 6.2695 101.4191
26 SR009 0.03 5.5285 100.0429 -2.23 4.9953 100.0652 5.0595 100.0946 4.6714 100.2621
27 SR010 1.03 4.9563 100.9469 -13.04 4.8300 101.0773 4.8818 101.0416 5.4886 100.4450
28 SR011 2.03 5.4126 105.0629 -18.24 5.3238 105.2453 5.3242 105.2865 5.9048 104.2612

Please see important disclaimer at the back of this report Page 5/1802
 PHEI Yields Movement
Government Bond Benchmark Series
8.00

7.50

7.00

6.50

6.00

5.50

5.00

FR0081 FR0082 FR0080 FR0083

FR0081 FR0082
Hi : 6.1167 Lo : 5.6344 Last : 6.1167 Hi : 6.8710 Lo : 6.4803 Last : 6.8710
6.20 6.90
6.85
6.10
6.80
6.00 6.75
6.70
5.90
6.65
5.80 6.60
6.55
5.70
6.50
5.60 6.45

FR0080 FR0083
Hi : 7.5027 Lo : 6.9987 Last : 7.5027 Hi : 7.4605 Lo : 7.2349 Last : 7.4605
7.60 7.50
7.50 7.45
7.40
7.40
7.30
7.35
7.20
7.30
7.10
7.00 7.25
6.90 7.20

PT PENILAI HARGA EFEK INDONESIA

SECURITIES VALUATION DEPARTMENT
Indonesia Stock Exchange Building
Tower II, Ground Floor
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190

Phone: +62 21 5155620

Fax: +62 21 5155026
For Information on PHEI Historical Fair Values, please visit our website: www.phei.co.id

DISCLAIMER :
The information contained in this document should only be used for user’s own purposes. Recipient is strictly prohibited to redistribute the information wholly or in a part without prior written permission from PHEI.
The information rendered in this document has been obtained from sources we believe reliable, until the due time of pooling information stated by PHEI. This document is intended solely for the purpose of providing
daily market fair price information for fixed income securities and Sukuk and current general brief description of Bond market in Indonesia, and not intended as recommendation, offering, suggestion or opinion from
PHEI to buy or sell or hold any securities, or to provide document, tax, accounting, or investment advice or services regarding the profitability or suitability of any securities or other investment. PHEI, include its
directors, employees and PHEI’s official agent, is not liable for any loss arising from any kind of use of information contained in this document by information recipient and will release PHEI from any claim or any legal
proceeding that might have caused.

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