Indonesian Government Raises IDR 11.3 Trillion from First State Sukuk Auction of 2021; Below Target

The Government of Indonesia has raised IDR 11.3 trillion from the first edition of its biweekly auction of State Shariah Securities (SBSN), also referred to as State Sukuk, in 2021. The auction was conducted via Bank Indonesia acting as the SBSN Auction Agent on the 12th of January 2021 and raised less than the targeted amount of IDR 14 trillion.

According to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance, the total incoming bids received from the State Sukuk auction for the six series offered was IDR 24.27 trillion, which was lower than that received from the previous auction held on the 8th of December 2020, which raised IDR 27.76 trillion in incoming bids. The total amount awarded in the previous auction...