Government Still Relies on Bonds to Seek Funding

By Editorial Team 30/09/2019
Summary

The government is still pursuing funding through bond issuance. The Directorate General of Financing and Risk Management (DJPPR) will auction five series of Sukuk next week, targeting to reap Rp 7 trillion worth of proceeds. These Sukuk auctions offer various yields ranging such as up to 8.625 percent discounts. The auction held next week will be the first of 11 bond auctions planned in the fourth quarter of 2019.

These five Sukuk consist of one series of Sharia State Treasury Notes (SPN) namely SPN-S02042020 with a discount offer and due on March 4, 2020 and four series of Project-Based Sukuk (PBS), including PBS002, PBS019, PBS022 and PBS015, with yield rate of 5.45 percent, 8.25 percent, 8.62 percent, and 8 percent respectively. The Sukuk auctions have underlying assets of projects and activities in the 2019 State Budget and state-owned goods.

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