Indonesia targets Rp10 trillion in eight-series sukuk auction
The auction is scheduled for 3 November 2026, with the highest stated coupon at 6.87500 per cent on a series maturing in December 2049.
Indonesia plans to raise an indicative Rp10 trillion through an auction of eight sovereign sukuk series on 3 November 2026 to help finance the 2026 state budget. The Finance Ministry’s Directorate General of Budget Financing and Risk Management said the government could sell more or less than the target.
Bidding will run from 09:00 to 11:00 Western Indonesian Time through Bank Indonesia’s auction system. Results are due on 3 November, with settlement scheduled for 5 November 2026, two business days after the auction. Bank Indonesia will act as auction agent.
The offering includes three discounted short-term instruments: SPNS16122026, maturing on 16 December 2026; SPNS04052027, due on 4 May 2027; and SPNS19072027, due on 19 July 2027. The five project-based sukuk series are PBS030, PBS040, PBSG002, PBS034 and PBS038. The highest stated coupon is 6.87500 per cent for PBS038, which matures on 15 December 2049. PBS040 has the lowest stated coupon, at 5.00000 per cent, and matures on 15 November 2030.
The ministry said individuals and institutions may participate, but bids must be submitted through primary dealers approved by the ministry. The open auction will use a multiple-price method: successful competitive bidders will pay according to their submitted yields, while successful non-competitive bidders will pay according to the weighted-average yield of accepted competitive bids.
