October 29, 2013 / 9:11 AM / 6 years ago

Indonesia raises 429 bln rph from sharia bonds, well below target

JAKARTA, Oct 29 (Reuters) - Indonesia’s finance ministry raised 429 billion rupiah ($38.81 million) from sharia bonds on Tuesday, the ministry’s debt office said, far below an indicative target of 1 trillion rupiah.

The country sold 415 billion rupiah of 30-year project-based sukuk at a yield of 8.35561 percent, down from 9.19020 percent earlier this month.

It also sold 14 billion rupiah of 7-year project-based sukuk with a yield of 7.10491 percent.

There were no winning bids for 6-month sharia T-bills and 24-year project-based sukuk. Total bids were 1.992 trillion rupiah and the highest bid-to-cover ratio was 1.43 for 7-year project-based sukuk.

$1 = 11,053 rupiah Reporting by Nilufar Rizki; Editing by Jonthan Thatcher and Jacqueline Wong

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