Indonesia raises 790bn rupiah in sukuk auction, above target

JAKARTA: Indonesia raised 790 billion rupiah ($88.8 million) from a sukuk auction on Tuesday, above a 500 billion rupiah target, but failed to sell its first project-based sukuk, the finance ministry said in a statement.

The ministry aims to raise 39.9 trillion rupiah in debt this quarter, after failing to sell as much debt as targeted last quarter due to investor risk aversion amid worries over eurozone debt.

Copyright Reuters, 2011