JAKARTA. The Indonesian government is once again scheduling an auction of Sharia Government Securities (lit. Surat Berharga Syariah Negara/SBSN) or state sukuk with an indicative target of IDR 11 trillion this time.

The auction will take place on July 2, 2024, while the settlement of the auction follows on July 4, 2024.

There will be 7 series of sukuk offered in said auction. They consist of 2 series of Sharia Treasury Notes (lit. Surat Perbendaharaan Negara – Syariah/SPN-S) and 5 series of Project Based Sukuk (PBS).

Underlying assets of all state sukuk series currently being auctioned off are projects or events stated in the 2024 State Budget, as well as state assets. The allocation of non-competitive buying for both SPNS series is 75% of awarded amount, while non-competitive portion for PBS series is set to 30%.

All parties may submit their bids in the auction. However, in its implementation, the bid submission should be made through primary dealers authorised by the Ministry of Finance. (KR/ZH)