JAKARTA. Indonesian government will once again hold an auction of Government Sharia Securities (lit. Surat Berharga Syariah Negara/SBSN) or State Sukuk on February 20, 2024, with an indicative target of IDR 12 trillion.

There will be 7 series of sukuk offered in the auction, according to the official statement from the Directorate-General of Budget Financing and Risk Management of the Ministry of Finance. The series will consist of 2 series of Sharia Treasury Notes (lit. Surat Perbendaharaan Negara – Syariah/SPN-S) and 5 project-based sukuk (PBS).

Both SPNS series will be offered with a discount, while 5 series of PBS will be offered with a yield ranging from 4.87% to 6.87%.

The auction will be held openly, using a system arranged by Bank Indonesia. All parties may submit heir bids through participants of auction authorised by the Ministry of Finance.

According to IDNFinancials record, the government has conducted 3 state sukuk auctions since the beginning of 2024. The total incoming bids on January 9 were recorded at IDR 28.3 trillion, IDR 23.77 trillion on January 23, and IDR 23.65 trillion on February 5. (KR/ZH)