Jakarta (ANTARA News) - The Indonesian government plans to auction shariah bonds with an indicative target of Rp1.5 trillion on June 11, 2013 to meet part of its funding targets in the 2013 budget.

A finance ministry chief information official, Yudi Pramadi, said in a press statement received here on Tuesday the four shariah bonds to be auctioned are three 2013 budget projects-based bonds and one short-term bond.

The three project-based bonds are PBS001 series (resale) offering a yield of 4.45 percent and maturity in February 15, 2018, PBS004 with a yield of 6.10 percent and maturity on February 15, 2037 and PBS005 with a yield of 6.75 percent and maturity on April 15, 2043.

The short-term bond meanwhile is SPN-S12122013 series which is a new issuance offering a discount yield and is to be matured on December 12, 2013.

This bond uses state assets such as land and buildings as its reference.

Yudi said the auction would be open and carried out by Bank Indonesia as an auction agency.

He said the government holds a right to sell the bonds higher or lower than the indicative target.

reporting by agus salim

Editor: Jafar M Sidik
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