The sharia bonds up for the auction will be series IFR0005, IFR0007, IFR0006, and IFR0010, all of them the reopening of existing issues, Director General of Debt Management at the Finance Ministry Rahmat Waluyanto said in a statement on Thursday.
The state sharia bonds series IFR005 due on January 15, 2017 will be issued at a yield/coupon of 9.00 percent, IFR0007 due on January 15, 2025 at a yield/coupon of 10.25 percent, IFR0006 due on March 15, 2030 at a yield/coupon of 10.25 percent and IFR0010 due on February 15, 2036 at a yield/coupon of 10.00 percent.
Bidders for the state sharia bonds will consist of 12 banks and four securities companies, with Bank Indonesia (the central bank/BI) as an auction agent.
The 12 banks are Bank Mandiri, BRI, BNI, Bank Permata, Bank Panin, Bank HSBC, OCBC NISP, Standard Chartered Bank, CIMB Niaga, BII, Citibank, and BNI Syariah. Meanwhile, the four securities companies are Danareksa Sekuritas, Mandiri Sekuritas, Trimegah Securities, and Bahana Securities.
The auction will be open using a multi-price method. In principle, all parties, both individual and institutional investors, can bid for the bonds. However, the bids must be filed through bidders that have been registered at and have secured authority from the Finance Ministry, the statement said.
The state sharia bonds series IFR0005, IFR0007, IFR0006, and IFR0010 will be issued using an "Ijarah sale & Lease Back" agreement that has secured a sharia compliant statement from the National Sharia Council - the Indonesian Ulema Council (DSN-MUI) No. B373/DSN-MUI/X/2009 dated October 20, 2009.
(SYS/S012/F001)
Editor: Suryanto
Copyright © ANTARA 2011
