Fifth Govt Sukuk Sale Expected to Bring in Rp 15t

Indonesia's Finance Ministry is targeting Rp 15 trillion ($1.55 billion) from issuing rupiah-denominated sukuk to its citizens as part of the country’s effort to plug the budget deficit. Dahlan Siamat, director of Islamic financing at the Finance Ministry’s debt management office, said that the sukuk would use government infrastructure projects such as toll roads and bridges as the underlying assets. The government set the annual coupon rate of the rupiah sukuk at 6.0 percent with a tenor of three years.