JAKARTA - Indonesia's finance ministry sold 2.635 trillion rupiah (S$275 million) of Islamic bonds at an auction, above an indicative target of 2 trillion rupiah, the ministry's financing and risk management office said on Tuesday.
The weighted average yield for the six-month Islamic T-bill was 5.78711 per cent, lower than 5.87891 per cent in the previous auction on March 24.
The 1.2-year project-based sukuk had a weighted average yield of 7.07000 per cent.
The weighted average yield for the five-year project-based sukuk was 7.41435 per cent, higher than the previous auction of 7.28632 per cent.
The 25-year project-based sukuk had a weighted average yield of 8.21175 per cent, higher than 8.12142 per cent in the previous auction.
Total incoming auction bids were 5.397 trillion rupiah, higher than 3.250 trillion rupiah in the previous auction.
The highest bid-to-cover ratio was 5.40 for the six-month Islamic T-bill.
On March 26, the ministry raised 2.7 trillion rupiah of sukuk via a private placement to the Deposit Insurance Corporation (LPS).