JAKARTA. The Indonesian government will once again hold an auction of Sharia Government Securities (SBSN) or State Sukuk on March 21, 2023, setting an indicative target of IDR 11 trillion.

There are 6 series of state sukuk offered in this upcoming round of auction. The details consist of 1 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 will be in the form of discount, whereas the yield for PBS series is set to 5.38% to 6.88%.

The underlying assets prepared for this SPN-S are state assets, which had been approved by House of Representatives of Indonesia. Meanwhile, the underlying assets of PBS series are projects and activities of the 2023 State Budget.

The auction of SPN-S and PBS will be hold through the tender method adopted by Bank Indonesia. The interested parties will be able to submit bids via primary dealers authorised by the Ministry of Finance. (KR/ZH)