JAKARTA. The Indonesian government once again will hold an auction of Government Sharia Securities (SBSN) or government sukuk on September 26 2023, with an indicative target of IDR 6 trillion.

According to the official statement from the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, there are 6 series of state sukuk that will be offered in the auction. The details consist of 1 series of State Treasury Letters - Sharia (SPN-S) and 5 series of Project Based Sukuk (PBS).

The rewards offered for the SPN-S series are in the form of discounts. Meanwhile rewards for PBS series start from 5.37% to 6.87%.

The auction will be held using a system organized by Bank Indonesia as the auction agent. All parties can submit purchase offers (bids) in the auction, through main dealers who have been approved by the Ministry of Finance.

According to idnfinancials.com data, the Indonesian government previously held a state sukuk auction on September 12, 2023. In this auction, the total number of bids entered in the auction was recorded at IDR 31.33 trillion. Meanwhile, the nominal amount won was IDR 9 trillion. (KR/LM)