Indonesian Government Targets IDR 2 Trillion from Savings Sukuk ST007 Series Issuance

November 05, 2020

The Government of Indonesia is targeting to raise IDR 2 trillion from the sale of retail green Sukuk - Savings Sukuk ST007 Series, in a bid to expand the retail investor base in the domestic financial market. Proceeds of the issuance of the Sukuk will be utilised to finance green projects in the state budget, according to local media reports.

The Savings Sukuk ST007 Series will be open to subscription from the 4th to 25th of November 2020 and will have a two-year tenure set to mature on the 10th of November 2022, with a floating coupon rate, according to a statement released by the Directorate General of Financing and Risk Management (DJPPR), of Indonesia’s Ministry of Finance.