Results: Government Sukuk
Bond Auction
Overview
Indonesian government conducted
their sukuk auctions yesterday and received incoming bids of Rp3.60 tn bids
versus its target issuance of Rp2.00 tn or oversubscribed by 1.8x. However, DMO
only awarded Rp1.96 tn bids for its 5mo, 1y, 5y and 26y bonds. Incoming bids
were mostly clustered on the front end tenors. 5mo SPN-S was sold at a weighted
average yield (WAY) of 5.91406%, 1y PBS008 at 7.38914%, 5y PBS006 at 7.81818%
while 26y PBS007 was sold at 8.44932%. No bids were rejected during the
auction. Bid-to-cover ratio on today’s auction came in at 1.05X – 3.30X.
Till the date of this report,
Indonesian government has raised approx. Rp20.13 tn worth of debt through bond
auction which represents 24.1% of the 2Q 15 target of Rp83.50 tn. On total,
Indonesian government has raised approx. Rp200.2 tn worth of debt through
domestic and global issuance which represent 44.3% of this year target of
Rp451.8 tn.
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