Demand for Indonesia sukuk below expectations

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Indonesia-sukukIndonesia’s finance ministry raised 429 billion rupiah ($38.81 million) from new Shariah bonds on October 29, the ministry’s debt office said, far below an indicative target of 1 trillion rupiah, Bloomberg reported.

The country sold 415 billion rupiah of 30-year project-based sukuk at a yield of 8.35561 per cent, down from 9.19020 per cent earlier this month.

It also sold 14 billion rupiah of 7-year project-based sukuk with a yield of 7.10491 per cent.

There were no winning bids for 6-month Shariah T-bills and 24-year project-based sukuk. Total bids were 1.992 trillion rupiah and the highest bid-to-cover ratio was 1.43 for 7-year project-based sukuk.

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Reading Time: 1 minute

Indonesia’s finance ministry raised 429 billion rupiah ($38.81 million) from new Shariah bonds on October 29, the ministry’s debt office said, far below an indicative target of 1 trillion rupiah, Bloomberg reported.

Reading Time: 1 minute

Indonesia-sukukIndonesia’s finance ministry raised 429 billion rupiah ($38.81 million) from new Shariah bonds on October 29, the ministry’s debt office said, far below an indicative target of 1 trillion rupiah, Bloomberg reported.

The country sold 415 billion rupiah of 30-year project-based sukuk at a yield of 8.35561 per cent, down from 9.19020 per cent earlier this month.

It also sold 14 billion rupiah of 7-year project-based sukuk with a yield of 7.10491 per cent.

There were no winning bids for 6-month Shariah T-bills and 24-year project-based sukuk. Total bids were 1.992 trillion rupiah and the highest bid-to-cover ratio was 1.43 for 7-year project-based sukuk.

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