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Indonesia to sell US$106.4-M Islamic Bond

Indonesia is scheduled to sell sovereign Islamic bond on 26 June at indicative value of 1-T Rupiah (about US$106.4-M), aiming at financing the state budget this year, a statement released by the financial ministry said Wednesday.

The sale of the Islamic bond would be conducted through auction basis, to sell 4 series of the bond, maturing from Y’s 2018 to 2037 and providing rate of returns between 4.45 to 6.10%.

In its revised budget this year, Indonesian government has proposed to raise net bond sales by 25-T Rupiah to 159.6-T Rupiah this year due to widening budget deficit.

International rating agencies of Moody’s and Fitch have awarded investment grade rating earlier this year for the soundness of Indonesia’s economy and correct government’s policies in dealing with financial crisis that has been battered global economies in the recent years.

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Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.