Indonesia raises $604.72mln in Islamic bond auction, meets target

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The majority of the notes sold on Tuesday carried weighted average yields that were lower than comparable notes sold in the previous auction

Stefanno Sulaiman, Reuters News

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JAKARTA - Indonesia raised 9 trillion rupiah ($604.72 million) from an Islamic bonds auction on Tuesday, meeting its indicative target, its finance ministry said.

Total incoming bids were 24.14 trillion rupiah, lower than the 28.54 trillion rupiah of bids in the previous Aug 23 sukuk auction.

The majority of the notes sold on Tuesday carried weighted average yields that were lower than comparable notes sold in the previous auction.

($1 = 14,883.0000 rupiah)

(Reporting by Stefanno Sulaiman Editing by Ed Davies)

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