Indonesia raises 9 trillion rupiah from Islamic bonds auction, below target

JAKARTA: Indonesia raised 9 trillion rupiah ($641.03 million) from an Islamic bonds auction on Tuesday, below its indicative target, and planned to hold an additional auction on Wednesday, the finance ministry said in a statement.

Project-based sukuk were sold with mostly lower average yields than the comparable notes sold in the previous auction on Jan. 12.

Tuesday's auction attracted bids amounting to 23.34 trillion rupiah, compared with 24.3 trillion rupiah in the previous auction.