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Indonesian govt to sell $52 mln of Islamic bonds on Oct. 30

Source:Xinhua Published: 2012-10-25 16:42:42

Indonesian government planned to sell five series of Islamic bonds at an indicative value of 500 billion rupiah (about $52 million) next Tuesday, and proceeds from the bond sales would be used to finance 2012 state budget, a statement released by the finance ministry said on Thursday.

According to the statement one of the Islamic bonds scheduled for sale next Tuesday is a brand new one while the remaining four batches were resale programs.

The brand new Islamic bond would be issued as State Syariah Treasury Notes (SPNS) 30042013, to have due date on April 30 2013 and offered with "underlying assets" that consisted of state's land property and buildings.

The sale of those Islamic bonds would be conducted on auction basis by Indonesian central bank, Bank Indonesia (BI), the statement said.
Posted in: Asia-Pacific