Indonesia raises Rp16.65 trillion at state sukuk auction
Bids reached Rp28.55 trillion against an indicative target of Rp10 trillion, with demand concentrated in shorter-term securities.
Indonesia accepted Rp16.65 trillion in bids at an auction of eight state sukuk series on 3 November 2026, the Finance Ministry’s financing and risk management directorate, DJPPR, said. The proceeds will help finance development spending under the 2026 state budget.
Investors submitted offers totalling Rp28.55 trillion, exceeding the government’s Rp10 trillion indicative target. Seven of the securities were reopened, while SPNS04052027 was offered as a new issue.
Shorter-term instruments drew most of the bids. Offers for SPNS19072027 amounted to Rp7.896 trillion, followed by Rp7.631 trillion for SPNS16122026 and Rp5.515 trillion for SPNS04052027.
For the medium- and longer-term series, bids totalled Rp2.473 trillion for PBS040, Rp2.465 trillion for PBSG002 and Rp1.894 trillion for PBS030. PBS038 attracted Rp0.343 trillion, while PBS034 received Rp0.3394 trillion.
The highest weighted-average accepted yield was 7.71213 per cent for PBS038. The lowest was 6.30000 per cent for the short-term SPNS16122026 series, which also recorded a bid-to-cover ratio of 15.26 times.
