JAKARTA: Indonesia's finance ministry sold 5.25 trillion rupiah ($386 million) of Islamic bonds at an auction, above the indicative target of 4 trillion rupiah, its financing and risk management office said on Tuesday.

The weighted average yield of the six-month Islamic t-bill was 6.26562 percent, lower than 6.83594 percent at the last sale on Jan. 26.

The project-based sukuk maturing in January 2018 had a weighted average yield of 8.11879 percent, lower than 8.44990 percent.

The weighted average yields at Tuesday's auction for the project-based sukuk maturing in September 2020 and August 2023 were 8.21733 percent and 8.49921 percent respectively, lower than the 8.53996 percent and 8.83990 percent yields on Jan. 26.

The project-based sukuk maturing in November 2031 had a weighted average yield of 8.73996 percent, lower than the previous auction's 9.03693 percent.

Total incoming bids on Tuesday were 14.83 trillion rupiah, higher than 13.65 trillion rupiah at the previous auction.

The highest bid-to-cover ratio was 10.58 for the six-month Islamic t-bill.

Copyright Reuters, 2016