Government Will Auction 6 SBSN Series With A Target Of IDR 9 Trillion

Illustration-(Photo: DOK ANTARA)

JAKARTA - The government will conduct an auction of State Sharia Securities (SBSN) or Sukuk Negara on Tuesday, November 7, 2023. At this auction, the government set an indicative target of IDR 9 trillion. Reporting from the website of the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, there are six SBSN series to be auctioned, namely one SPN-S (Syariah-Syariah Treasury) series and five PBS (Project Based Sukuk) series. Funds obtained in this auction will be used by the government to meet part of the financing target in the 2023 State Budget. The SBSN auction opens on Tuesday, November 7, 2023 at 09.00 WIB and closes at 11.00 WIB. The auction results will be announced on the same day and the date of the schedule falls on Thursday, November 9, 2023 or 2 working days after the auction date. The SBSN auction will be carried out using an auction system organized by Bank Indonesia as an SBSN Auction Agent. The auction is open (open auction) and uses various price methods.

The auction winner who submits a competitive bid will pay according to the submitted yield. The auction winner who submits a non-competitive purchase offer will pay according to the weighted average yield (weighted average yield) of the competitive bid that is declared victorious. In addition, the SBSN SPN-S series auction will be issued using the Ijarah Sale and Lease Back contract based on the fatwa of the National Sharia Council – the Indonesian Ulema Council (DSN-MUI) number 72/DSN-MUI/VI/2008. Meanwhile, the PBS series SBSN uses the Ijarah Asset to be Leassed contract based on the DSN-MUI fatwa number 76/DSN-MUI/VI/2010. Here are the six SBSN series that will be auctioned off on Tuesday, November 7, 2023: 1. SPN-S 07052024 (new issuance) which matures on May 7, 2024 in exchange for discounts. 2. PBS036 which matures on August 15, 2025 in exchange for 5.37 percent. 3. PBS003 which matures on January 15, 2027 in exchange for 6 percent. 4. PBS037 which matured on March 15, 2036 in exchange for 6.87 percent. 5. PBS034 which matures on June 15, 2039 in exchange for 6.5 percent. 6. PBS033 which matures on June 15, 2047 in exchange for 6.75 percent.