Indonesia Exceeds Target and Raises IDR 13.15 Trillion in State Sukuk Auction; Two New Issuances

The Government of Indonesia has raised IDR 13.15 trillion from its biweekly auction of State Shariah Securities (SBSN), also known as State Sukuk, held on the 27th of July 2021, according to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance. The amount raised exceeded the indicative target of IDR 12 trillion, and was higher than that awarded from the previous auction, which raised IDR 12.5 trillion. Total incoming bids of the latest auction amounted to IDR 56.693 trillion, which exceeded the previous auction’s incoming bids of IDR 51.109 trillion.

Why it Matters?

The funds obtained in the State Sukuk auction will be used by the Government to fulfil part of its financing target in...