The Indonesian government is taking advantage of an upgraded S&P rating by releasing government bonds (SUN) denominated in Japanese Yen (Samurai Bonds) worth JPY100bn. There are 3 series that has been released, RIJPY0620 3-years tenors (JPY40bn) with 0.65% coupon, RIJPY0622 5-years tenors (JPY50bn) 0.89% coupon and RIJPY0624 7-years tenors (JPY10bn) with 1.04% coupon rate. That coupon rate is considered lower compared to last year 3 and 5 years tenors with 0.83% and 1.16% coupon rates. Next week, the government SUN auction offers 3 SUN benchmark, FR0061 (5-years) FR0059 (10-years) and FR0074 (15-years). The government also offer 2 short terms SPN (SUN), SPN03170907 (new issuance) with 3-months tenor and SPN12180607 (new issuance) 12-months tenor.