Jakarta, Aktual.com – The government will auction five series of state Islamic securities (SBSN) with an indicative target of Rp 4 trillion on August 9, 2016.
The Directorate General of Finance and Risk Management of the Ministry of Finance in a statement in Jakarta, Thursday (4/8), said sales of the country’s bonds to meet part of financing target in the 2016 State Budget.
SBSN to be auctioned is the SPN-S 27012017 in exchange for a discount and mature on January 27, 2017 as well as the underlying asset of state property such as land and buildings.
In addition, the series PBS009 return of 7.75 percent and mature on January 25, 2018 as well as the underlying asset of the project and the activities of the state budget in 2016 and state property.
Also auctioned project-based SBSN, each of which has the underlying asset of the activities in the state budget in 2016 and state property is the series PBS006 return of 8.25 percent and mature on 15 September 2020.
Then, the series PBS011 return of 8.75 percent and mature on August 15, 2023 as well as PBS012 exchange for 8.875 percent and mature on 15 November 2031.
SBSN auction will be conducted through auction system organized by Bank Indonesia and is open and using a variety of prices.
In principle, all of it both individual and institutional investors, may submit bids in the auction. However, the submission of bids for the auction participants have to go through after getting approval from the Ministry of Finance.
The auction winner competitive purchasing (competitive bids) will pay according to the offered yield, while the winner of the auction non-competitive (non-competitive bids) will pay according to the weighted average yield on competitive bids won.
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