Indonesia’s Latest Sovereign Sukuk Issuance Attracts Nominal Bids worth IDR 9.5 Trillion

A press release issued from the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance (Ministry of Finance) in Indonesia on the 18th of May 2020 indicated that the Government of Indonesia auctioned off its latest state Sukuk (SBSN) series.

A total of six series of SBSN were issued, comprising one Islamic Treasury letter (SPN-S) and five project-based Sukuk (PBS) with maturities ranging from 2020 to 2043. A total nominal value of IDR 9.5 trillion was received at this auction, higher than the IDR 7 trillion indicative target set out by the Government.

Of the five PBS issued, auction results indicated a preference toward shorter-tenure Sukuk programs, w...