Sukuk Auction Absorbs Rp 10 Trillion, Investor Appetite Wanes

The Ministry of Finance announced the results of an auction for eight series of State Sharia Securities (SBSN) or Sukuk on Tuesday, 30 June 2026. Total incoming bids for the sukuk auction this week amounted to Rp 15.91 trillion, a decrease compared to the previous auction. The government targeted fresh funds of Rp 10 trillion from this bond auction. “The Minister of Finance has set the total nominal amount won from the eight series offered at Rp 10 trillion,” according to the Directorate General of Financing and Risk Management. The auction aims to meet part of the financing target in the 2026 State Revenue and Expenditure Budget (APBN). The SBSN series auctioned were SPNS10082026 (reopening), SPNS16122026 (reopening), SPNS01032027 (reopening), PBS030 (reopening), PBS040 (reopening), PBS034 (reopening), PBS005 (reopening), and PBS038 (reopening). The most sought-after series were PBS030 and SPNS01032027, with incoming bids of Rp 4.44 trillion and Rp 4.38 trillion, respectively. The weighted average yield won for the eight series in this auction ranged from 6.85000 percent to 7.23851 percent, compared to a range of 6.75000 percent to 7.21325 percent in the previous auction. Investor interest in this auction fell by Rp 3.23 trillion compared to the prior auction on 17 June 2026, where total incoming bids were Rp 19.14 trillion and the government absorbed Rp 9.45 trillion. Bids also declined compared to the State Sukuk auction on 2 June 2026, which reached Rp 26.04 trillion. The government bond offerings are part of budget financing and also cover this year’s APBN deficit, which is targeted to reach Rp 689.1 trillion. Based on the 2026 state budget law, or UU APBN Number 17 of 2025, debt financing this year is targeted at Rp 832.2 trillion, an increase from last year’s target of Rp 775.9 trillion.