The Indonesian government will hold a Sukuk auction Target of IDR 11 trillion.

BOND - JAKARTA. The Indonesian government has announced plans to hold an auction for the Government Sharia Securities (SBSN) or sukuk auction on Tuesday, April 23, 2024. The indicative target for the sukuk auction has been set at IDR 11 trillion.

According to the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, there will be seven (7) series of sukuk to be auctioned, including two series of SPN-S (State Treasury Notes - Sharia) and five series of PBS (Project Based Sukuk).

The funds raised from the sukuk auction will be used by the government to meet part of the financing target in the 2024 State Budget.

Here are the seven series of sukuk to be auctioned on Tuesday (23/4):

1. SPNS 22102024 (new issuance) will mature on October 22, 2024 with a discount rate
2. SPNS 20012025 (new issuance) will mature on January 20, 2025 with a discount rate
3. PBS032 will mature on July 15, 2026 with a return of 4.87%
4. PBS030 will mature on July 15, 2028 with a return of 5.87%
5. PBS004 will mature on February 15, 2037 with a return of 6.10%
6. PBS039 will mature on July 15, 2041 with a return of 6.62%
7. PBS038 will mature on December 15, 2049 with a return of 6.87%

The sukuk auction will open on Tuesday, April 23, 2024 at 09.00 WIB and close at 11.00 WIB. The results of the auction will be announced on the same day.

Meanwhile, the settlement will take place on April 25, 2024, or 2 business days after the auction date.

The SBSN auction will be conducted using the auction system organized by Bank Indonesia as the SBSN Auction Agent.

The auction is open (open auction) and uses a multiple price method (multiple price).