Indonesia raises 1.1 trillion rupiah from sukuk auction, yields fall

JAKARTA: Indonesia's finance ministry sold 1.1 trillion rupiah ($96.68 million) of sharia bonds on Tuesday with most yields lower than the previous auction, the ministry's debt office said.

The country sold 748 billion rupiah of six-month sharia T-bills at a yield of 6.25887 percent, down from 6.71615 percent on Sept. 3.

It also sold 199 billion rupiah of 30-year project-based sukuk with the yield down to 9.18435 percent from 9.43750 percent earlier this month. The seven-year project-based sukuk was sold for 153 billion rupiah with the yield at 8.31144 percent.

Total bids were 6.49 trillion rupiah and the highest bid-to-cover ratio was 7.95 from six-month sharia T-bills.