Government Absorbs Rp 15 Trillion from State Sukuk Auction

The government announced the results of the auction of State Sharia Securities (SBSN), or State Sukuk, on Tuesday, 7 April 2026. The total investor offers received from this week’s sukuk auction amounted to Rp 30.5 trillion.

The series auctioned were SPN-S (State Treasury Securities - Sharia) and PBS (Project Based Sukuk). Eight SBSN series were offered. “The total nominal value won from the eight offered series is Rp 15 trillion,” as quoted from the website of the Directorate General of Financing and Risk Management of the Ministry of Finance, cited on Wednesday, 8 April 2026.

The eight series are SPNS04052026 (reopening), SPNS12102026 (reopening), SPNS03022027 (new issuance), PBS030 (reopening), PBS040 (reopening), PBS034 (reopening), PBS005 (reopening), and PBS038 (reopening). The most sought-after series were SPNS03022027 and SPNS04052026, with incoming offers of Rp 5.312 trillion and Rp 5.311 trillion, respectively.

The purpose of the auction is to fulfil part of the financing target in the 2026 State Revenue and Expenditure Budget (APBN). With an indicative target of Rp 12 trillion, the maximum that can be won is up to 200 percent.

In the previous sukuk auction on 10 March 2026, the total incoming bids were Rp 30.9 trillion. However, the government decided to award Rp 15 trillion.

Government bond offerings are part of budget financing and also cover the 2026 APBN deficit, which is targeted at Rp 689.1 trillion. Based on the 2026 state revenue and expenditure budget law or the APBN Law number 17 of 2025, this year’s debt financing is targeted at Rp 832.2 trillion. This figure is an increase from last year’s target of Rp 775.9 trillion.