Sukuk Auction Only Raises Rp 1.38 Trillion

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03/05/2018 08:30 WIB

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In the Sukuk auction held on May 2, 2018, the government only managed to raise Rp 1.38 trillion out of an indicative target of Rp 8 trillion.

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SBSN Auction Results (May 2, 2018)

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In the State Sharia Securities (SBSN) auction held on May 2, 2018, the government only managed to absorb Rp 1.38 trillion from the Rp 5.53 trillion offered. Seven series were offered in the Sukuk auction: SPNS03112018 (new issuance), PBS016 (reopening), PBS002 (reopening), PBS017 (reopening), PBS012 (reopening), PBS004 (reopening), and PBS015 (reopening).

Of the seven series auctioned, four were successful: SPNS03112018 with a weighted average yield of 4.4%, PBS016 (6.21%), PBS002 (6.59%), and PBS017 (7.19%). The other three series received no bids.

Ongoing global uncertainty regarding the potential for interest rate hikes by the US Federal Reserve led investors to demand higher yields on SBSN. This is evident in the highest yield offered for the SPBNS03112018 series, which reached 5.59%, while the average winning yield was only 4.4%. Furthermore, for the three unsuccessful series, the highest yields offered were: PBS012 (7.66%), PBS004 (7.875%), and PBS015 (8.25%).

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."