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Indonesia to auction off Government Sukuk of IDR 10 trillion next week

17 September 2021 13:23

JAKARTA. The Indonesian government would launch an auction of Government Islamic Securities (SBSN) or Government Sukuk on September 21, 2021, with an indicative target of IDR 10 trillion.

There would be two series of Government Sukuk to be offered in the upcoming auction. Based on the official announcement of the Directorate-General of Financing and Risk Management of Finance Ministry, it would include Sharia Treasury Notes (SPN-S) and Project-Based Sukuk (PBS).

The settlement date of the said auction is set to September 23, 2021. Furthermore, the proceeds would be used “to fulfil a portion of the financing target in the 2021 State Budget.”

The three participants in the next week’s sukuk auction are the primary dealer, the Indonesia Deposit Insurance Corporation, and Bank Indonesia. There have been 13 banks and 3 security companies listed as participants in this event.

It is worth mentioning that the Government Sukuk auction would be open to the public and use various pricing methods. All investors, individual and institutional, could place a bid in the auction. “However, during the execution, the bid placement must be made through the primary dealer,” DJPPR further explains in its official statement. (KR/ZH)

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