Friday, October 08, 2010

CAPITAL MARKETS - SUKUK - Indonesia sells IDR 2 trillion sukuk via private placement

Indonesia raised IDR 2 trillion (USD 224 million) from a private placement of non-tradable Islamic debt or Sukuk, the Finance Ministry said on 7, October, 2010.

The ministry sold the four-year Sukuk at a yield of 7.13 % to the Haj Fund, managed by the Ministry of Religious Affairs.

Indonesia, home to largest Muslim population in the world, lags behind its neighbors in developing a market for Islamic finance.

Earlier this week, the Finance Ministry failed to meet its target to raise IDR 1 trillion in a sukuk auction, as investors demand high yields to compensate for the iliquidity of the paper.

Source : Zawya
Source : http://www.cibafi.org/newscenter/English/Details.aspx?Id=10169&Cat=0 - Oct 7, 2010
Posted by isfinin at 08:05
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1 comment:

  1. isfinin12 October 2010 at 10:16

    CAPITAL MARKETS - SUKUK - Indonesia sells IDR 2 trillion sukuk via private placement - Most important characteristics

    Nominal Value Rp 2 trillion
    Revenue Fixed Coupon
    7,13 % per annum
    Opening 07 Oct 2010
    Maturity 07 Oct 2014
    Nature Non-tradable
    Description Ijarah Al-Khadamat
    Underlying assets Service

    Source : http://www.depkeu.go.id/ind/Read/?type=ixPers&id=17334&thn=2010&name=SP_183_071010.pdf

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