Indonesia sells 2.2 trln rupiah of Islamic bonds, with lower yields

JAKARTA - Indonesia's finance ministry sold 2.195 trillion rupiah (S$236.4 million) of Islamic bonds at an auction on Tuesday, slightly above an indicative target of 2 trillion rupiah, the ministry's debt office said.

The weighted average yield for the six-month Islamic T-bill was 6.07422 percent, lower than 6.32812 percent at a previous sale on Jan. 13.

The 1.4-year project-based sukuk had a weighted average yield of 7.11991 percent, lower than the previous auction of 7.46064 percent.

The 25-year project-based sukuk had a weighted average yield of 8.15614 percent, lower than the previous 8.62196 percent.

There were no winning bids for the five-year project-based sukuk.

However, total incoming bids at Tuesday's auction reached 19.062 trillion rupiah, higher than 13.755 trillion rupiah previously.

The highest bid-to-cover ratio was 10.30 for the six-month Islamic T-bill.

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