JAKARTA. The Indonesian government will once again hold the auction of Government Sharia Securities (lit. Surat Berharga Syariah Negara/SBSN) or State Sukuk on March 19, setting an indicative target of IDR 12 trillion.

There will be 7 series of state sukuk offered in this auction, which will consist of 2 series of Sharia Treasury Notes (lit. Surat Perbendaharaan Negara – Syariah/SPN-S) and 5 series of Project Based Sukuk (PBS).

The yield offered for SPN-S series is discounts, while the yield offered for other five series of PBS ranges from the lowest of 4.87% to 6.87%.

The auction will be carried out with an auction system arranged by Bank Indonesia. All interested parties may submit their bids through primary dealers authorised by the Ministry of Finance.

According to IDNFinancials data, the Indonesian government has issued 5 state sukuk auctions since the beginning of 2024. From all those auctions, the total awarded amount clocks up to IDR 54.53 trillion.

Recently, the Indonesian government had conducted a state sukuk auction on March 5, 2024. The total incoming bids were reported at IDR 17.05 trillion, while the awarded amount only reached IDR 7.38 trillion, the lowest of all previous auctions. (KR/ZH)