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Indonesia sells US$2b global sukuk in largest-ever offering

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Indonesia completed its largest-ever global sukuk sale, selling US$2 billion of Islamic bonds at the lowest yield in three years.

[JAKARTA] Indonesia completed its largest-ever global sukuk sale, selling US$2 billion of Islamic bonds at the lowest yield in three years.

The Finance Ministry issued the notes at 4.325 per cent, lower than the initial 4.55 per cent indicated, Robert Pakpahan, director general at the budget financing and risk management office, said in a text message on Friday.

That compares with the 4.35 per cent rate paid on similar Shariah-compliant debt sold last year and the record-low 3.3 per cent on 10-year sukuk issued in 2012.

BLOOMBERG