Government to Auction Eight Series of Sharia Securities Next Week, Targeting Rp10 Trillion
The government will auction eight series of Sovereign Sharia Securities (SBSN) or State Sukuk next week, on Tuesday, 14 July 2026. According to an announcement published by the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, the indicative target for the auction is Rp10 trillion, with a maximum award of 200% of the indicative target.
The series to be auctioned are SPNS08092026, SPNS03022027, and SPNS12042027, which offer discounted returns, along with PBS030 with a 5.87% return, PBS040 at 5%, PBSG002 at 5.62%, PBS034 at 6.5%, and PBS038 at 6.87%. The PBSG002 series is a Green Sukuk offered through a domestic primary market auction. This issuance complements the Green Sukuk programme, which has been conducted eight times in the global market since 2018 and twelve times in the domestic market through retail Green Sukuk since 2019. The PBSG002 series can also be used to support the Macroprudential Inclusive Financing Ratio (RPIM) programme for conventional commercial banks, Islamic commercial banks, and Islamic business units.
The SBSN auction will be conducted using a system organised by Bank Indonesia as the auction agent. The auction is open and uses a multiple price method. All parties, both individual and institutional investors, may submit bids, but they must do so through primary dealers approved by the Ministry of Finance. The government reserves the right to sell the SBSN series in amounts greater or smaller than the indicative target. The auction opens on Tuesday, 14 July 2026, at 09:00 WIB and closes at 11:00 WIB, with results announced the same day. Settlement will take place on 16 July 2026. The SPN-S series is issued under an Ijarah Sale and Lease Back contract, while the PBS series uses an Ijarah Asset to be Leased contract. The underlying assets for the SPN-S series are State Property approved by the House of Representatives, whereas the PBS series uses projects and activities in the 2026 State Budget, including green projects. The issuer of the SBSN is the SBSN Issuance Company of Indonesia, a legal entity established specifically for this purpose.