Indonesia sells 5.17 trillion rupiah of Islamic bonds

JAKARTA: Indonesia's finance ministry sold 5.17 trillion rupiah ($358.16 million) of Islamic bonds at an auction on Tuesday, above the indicative target of 4 trillion rupiah, its financing and risk management office said.

The government on Tuesday sold Islamic T-bills maturing in February 2019 with a weighted average yield of about 6.2 percent, and those maturing in May 2019 with around 6.5 percent.

The weighted average yields of the project-based sukuk sold on Tuesday were higher than yields of comparable sukuk at the previous auction.

Total incoming bids for Tuesday's auction were about 10.90 trillion rupiah.