Government To Auction Sharia Bonds Valued At Rp2 Trillion

Jakarta (Antara Bali) - The government plans to auction Rp2 trillion worth of sharia bond series on June 30, 2015, the finance ministry said .

The fund is needed to cover part of the deficit in the 2015 state budget, the directorate general of finance and risks said in a statement here on Wednesday.

The bond series SPN-S 15012016  would mature  on January 15,  2016  with underlying assets of land and buildings.

There are also project backed bond series of PBS006 with underlying asset carrying a yield of 8.25 percent  maturing on  15 September 2020.

The bond series of PBS007  with yield of 9 percent  would mature on 15 September 2040  and PBS008 with a yield of  7 percent  and maturity on  15 June 2016.

The bidders for the auction for long term bond series  could submit competitive and non competitive bids  with the Deposit Insurance Agency (LPS)  sumitting non competitive bids.  

Bidders of short term bond series  could submit competitive  bids  with Bank Indonesia  and LPS  submitting  non competitive bids.

Winners of auction submitting competitive bids  would pay in line with the yield  proposed . Winners  submitting non-competitive bids  would pay  based on weighted average yield of the competitive bids  declared as winners. (WDY)