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Indonesia sells 1.975 trln rupiah of Islamic bonds, below target

  • 24 March, 2015

JAKARTA, March 24 (Reuters) - Indonesia's finance ministry sold 1.975 trillion rupiah ($153.10 million) of Islamic bonds at an auction, slightly below an indicative target of 2 trillion rupiah, the ministry's financing and risk management office said on Tuesday.

The weighted average yield for the six-month Islamic T-bill was 5.87891 percent, higher than 5.70141 percent in the previous auction on Mar. 10.

The 1.3-year project-based sukuk had a weighted average yield of 6.98941 percent.

The 25-year project-based sukuk had a weighted average yield of 8.12142 percent, lower than 8.15938 percent in the previous auction.

The weighted average yield for the five-year project-based sukuk was 7.28632 percent.

Total incoming auction bids were 3.250 trillion rupiah, lower than 7.632 trillion rupiah in the previous auction.

The highest bid-to-cover ratio was 2.76 for the six-month Islamic T-bill. ($1 = 12,900 rupiah)

(Reporting by Nilufar Rizki; Editing by Edmund Klamann) ((nilufar.rizki@thomsonreuters.com;))

Keywords: INDONESIA ECONOMY/SUKUK