The government will sell Rp 1 trillion (US$100 million) worth of sharia bonds next month through auction rather than bookbuilding mechanism, the Finance Ministry says.
"We plan to sell them sometime in August," director general of debt management Rahmat Waluyanto said Thursday after a meeting with selling agents.
He added that the government would issue sharia bonds regularly, probably once a month, depending on investor appetite.
This month, the government will issue retail bonds ORI006 designated for individual investors.
The minimum limit of purchase is Rp 5 million, while the maximum is Rp 3 billion. The coupon is set at 9.35 percent, higher than bank deposit rates.
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