Finance Ministry Targets Rp 12 Trillion from Sukuk Auction

The government, via the Ministry of Finance (Kemenkeu), will again auction eight series of Sharia-compliant Government Securities (SBSN) or State Sukuk on Tuesday, 17 June 2026. The bond auction is targeted to raise Rp 12 trillion.

Citing the website of the Directorate General of Financing and Risk Management (DJPPR) at the Ministry of Finance, the SBSN series being auctioned are the SPN-S (Sharia Treasury Bills) and PBS (Project Based Sukuk) series. There are eight series to be auctioned, including SPNS10082026 (reopening), SPNS16112026 (new issuance), and SPNS01032027 (reopening). These three series offer discounted yields.

Additionally, there are the PBS030 (reopening), PBS040 (reopening), PBSG002 (reopening), PBS034 (reopening), and PBS038 (reopening) series. The PBS038 series offers the highest yield at 6.875 percent, whilst the series offering the lowest yield is PBS040 at 5 percent.

Based on DJPPR data, investor interest in state sukuk auctions has begun to increase after having previously slumped drastically. Incoming bids at the SBSN auction on 2 June 2026 were recorded at Rp 26.04 trillion, whereas bids at the previous auction on 19 May 2026 only reached Rp 18.79 trillion.

With a target of Rp 12 trillion at the 2 June auction, the government decided to absorb only Rp 8.8 trillion. The purpose of the auction is to meet part of the financing target in the 2026 State Budget (APBN). With an indicative target of Rp 12 trillion, the maximum amount awarded can reach 200 percent.

The offering of government bonds is part of budget financing and also covers this year’s APBN deficit, which is targeted to reach Rp 689.1 trillion. Based on the Law on the State Budget for Fiscal Year 2026, or UU APBN Number 17 of 2025, debt financing this year is targeted at Rp 832.2 trillion. This figure has increased compared to last year’s target of Rp 775.9 trillion.