Indonesia Raises and Meets IDR 10 Trillion Target in State Sukuk Auction; New SPN-S Issuance

The Government of Indonesia has raised and met its indicative target of IDR 10 trillion from its biweekly auction of State Shariah Securities (SBSN), known as State Sukuk, held on the 7th of September 2021, according to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance. Total incoming bids amounted to IDR 56.61 trillion, which was higher than that awarded from the previous auction held on the 24th of August 2021, which raised IDR 52.47 trillion in bids with a total amount of IDR 9 trillion won.

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 the 2021 State Budget. The latest auction saw the issuance...