Government of Indonesia Raises Rp246 billion from Sharia Bonds Auction 

Tuesday, 13 July  2010

ANTARA News Agency

The government raised Rp246 billion in funds from the sales of state sharia bonds (sukuk) in an auction on Tuesday, a Finance Ministry official said.

The funds came from two of four series of sukuk offered in the auction, Rahmat Waluyanto, the ministry`s director general of debt management, said in a statement.

The two series were IFR0006 worth Rp239 billion and IFR007 worth Rp7 billion, he said.

The sukuk series IFR0007 due in March 15, 2030 carries a yield of 9.43985 percent and a coupon rate of 10.25 percent, while the sukuk series IFR0007 due on January 15, 2025 carries a yield of 9.28125 percent and a coupon rate of 10.25 percent.

The amount of incoming bids for IFR0003 was Rp310 billion with the lowest yield of 7,9375 percent and the highest yield of 9.5 percent, and IFR0005 Rp225 billion with the lowest yield of 8.4375 percent and the highest yield of 9.53125 percent.

Meanwhile, the amount of incoming bids for IFR0006 was Rp397 billion with the lowest yield of 9.90625 percent and the highest yield of 10.75 percent and IFR0007 Rp243 billion with the lowest yield of 9.28125 percent and the highest yield of 10.84375 percent.

The government did not raise any funds from the incoming bids for the series IFR0003 and IFR0005, he said.(*)