KONTAN.CO.ID - JAKARTA. Indonesia has raised 10 billion yuan ($1.50 billion) from its second issuance of Chinese yuan-denominated bonds, also known as panda bonds, the finance ministry said.

It sold 5.7 billion yuan of three-year notes with a coupon rate of 1.96%, 3.7 billion yuan of five-year notes with a coupon rate of 2.15%, and 0.6 billion yuan of seven-year notes with a 2.50% rate, the ministry said in a statement late on Tuesday.

Total bids for the bonds was 17.26 billion yuan with a bid-to-cover ratio of 1.7 times.

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Indonesia issued its first panda bond in July and raised 7 billion yuan.

The bonds proceeds will be used to finance the 2026 budget deficit, the ministry said.

Bond settlement is scheduled for November 17.

Panda bonds are yuan bonds sold in mainland China by foreign issues.

($1=6.6703 Chinese yuan renminbi)