Indonesia is waiting for the right
timing to proceed with its second international offering of
Shariah-compliant bonds, Dahlan Siamat, director of Islamic
finance at the government’s debt management office, said today.
“We are waiting for a window,” Siamat said in a telephone
interview from Jakarta. “We are still watching market
movements.” He declined to elaborate. (source)
Dwi Irianti Hadiningdyah, deputy director at the debt
management office, said Oct. 17 Indonesia may sell $500 million
of global Islamic bonds this year.
The nation sold $650 million of dollar-denominated Shariah-
compliant debt, or sukuk, in April 2009. The yield on the 8.8
percent notes due April 2014 dropped 11 basis points, or 0.11
percentage point, to 3.35 percent today, according to prices
from Royal Bank of Scotland Group Plc.
Average yields on global sukuk, which pay returns from
assets to comply with Islam’s ban on interest, climbed 14 basis
points in the first three days of this week, the HSBC/NASDAQ
Dubai US Dollar Sukuk Index shows.
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