Indonesia plans eight-series sukuk auction with Rp10 trillion target
The 20 October auction will help finance the 2026 state budget, with individual and institutional investors able to bid through approved primary dealers.
Indonesia’s government plans to offer eight series of sovereign sukuk on 20 October 2026, seeking an indicative Rp10 trillion to help fund the 2026 state budget, according to the Directorate General of Financing and Risk Management (DJPPR).
The domestic primary-market auction will cover short- and longer-term securities through Islamic treasury bills, known as SPN-S, and Project Based Sukuk, or PBS. The short-term series are SPNS23112026, SPNS12042027 and SPNS19072027, all of which offer returns through a discount.
The SPN-S securities will use an Ijarah Sale and Lease Back structure, backed by state-owned assets approved by Indonesia’s parliament. The PBS securities will use an Ijarah Asset to be Leased structure. Their underlying assets comprise projects or activities in the 2026 state budget approved by parliament, along with some state-owned assets.
DJPPR said both individual and institutional investors may submit bids, but must do so through primary dealers approved by the Finance Ministry. The auction participant list also includes the Indonesia Deposit Insurance Corporation and Bank Indonesia.
