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MINISTRY OF FINANCE OF THE REPUBLIC OF INDONESIA
DIRECTORATE GENERAL OF BUDGET FINANCING AND RISK MANAGEMENT
FRANS SEDA BUILDING 2ND FLOOR, JALAN DR. WAHIDIN RAYA NO. 1, JAKARTA 10710
TELEPHONE 021 – 3505052 EXT 2203/2235; FAX 021 – 34834635; WEBSITE www.djppr.kemenkeu.go.id
PRESS RELEASE
Sovereign Sharia Securities or Sukuk Negara Auction Plan
On February 5, 2024
Jakarta, January 30, 2024 - The Government will conduct a Sovereign Sharia Securities (SBSN) or Sukuk Negara Auction
on Monday, February 5, 2024. The SBSN to be auctioned are SPN-S (Surat Perbendaharaan Negara - Syariah) and PBS
(Project Based Sukuk) series to finance 2024 State Budget. Below are terms and conditions of the SBSN:
Sovereign Sharia Securities Series
Terms &
Conditions SPNS
SPNS 03112024 PBS032 PBS030 PBS004 PBS039 PBS038
05082024
(reopening)
(new issuance) (new issuance) (reopening) (reopening) (reopening) (reopening)
November 3, July 15, July 15, 15 Februari 15 Desember
Maturity Date 2024 2026 2028 July 15, 2041
August 5, 2024 2037 2049
Coupon At Discount At Discount 4,87500% 5,87500% 6,10000% 6,62500% 6,87500%
Underlying
Asset Projects in State Budget 2024 and State Owned Assets
Auction Date February 5, 2024
Settlement
Date February 7, 2024
Non-
Competitive 75% of theawarded 30% of the awarded
Allocation
Indicative
Target Rp12,000,000,000,000.00
1. Primary Dealers:
PT. Bank Mandiri (Persero), Tbk, PT. Bank Rakyat Indonesia (Persero), Tbk, PT. Bank Negara Indonesia (Persero),
Tbk, PT. Bank Permata, Tbk, PT. Bank Panin, Tbk, PT. Bank HSBC Indonesia, PT. Bank OCBC NISP, Tbk,
Standard Chartered Bank, PT. BankCIMB Niaga, Tbk, PT. Bank Maybank Indonesia, Tbk, Citibank N.A, PT. Bank
Registered Central Asia, Tbk, Deutsche Bank AG, Tbk PT. Danareksa Sekuritas, PT. Mandiri Sekuritas, PT. Trimegah Sekuritas
Auction Indonesia, Tbk, PT. Bahana Sekuritas, PT.Bank Syariah Indonesia Tbk.
Participants
2. Deposit Insurance Corporation (LPS);
3. Bank Indonesia
The auction will be held using the auction system organized by the Central Bank of Indonesia (BI) as SBSN Auction Agent.
It is an open auction using multiple price method. Basically, all parties, individual or institutional investors, can subscribe their
bids. But the bids shall be submitted through Registered Auction Participants authorized by Ministry of Finance.
The Registered Auction Participants, Bank Indonesia, and Deposit Insurance Corporation can submit their bids with reference
to the Minister of Finance Regulation number 195/PMK.08/2020 concerning Sovereign Sharia Securities Auction in the
Domestic Primary Market.
The auction winner who’s submitting the competitive bids will pay according to the proposed yield. The auction winner who’s
submitting non competitive bids will pay according to the weighted average yield of the awarded competitive bids. The
Government has the right to sell the SBSN series more or less thanthe indicative amount.
The auction will be opened on Monday, February 5, 2024, at 09.00 a.m. and closed at 11.00 a.m. Theresult will be announced
on the same day. Settlement will be held on, February 7, 2024 or 2 working days after the auction date (T+2). The regulation
about the auction, including settlement calculation are stated in the Finance Minister Regulation number 195/PMK.08/2020
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and Regulation of the Director General of Budget Financing and Risk Management Number 6/PR/2020 concerning Submission Procedures of Purchase Offer and Settlement Price Calculation for Issuance of Sovereign Sharia Securities (SBSN) or Sukuk Negara in Rupiah denominated in the Domestic Primary Market. SPN-S will be issued using Ijarah Sale and Lease Back structure, based on Fatwa National Sharia Board– Indonesian Council of Ulama (DSN-MUI) number 72/DSN-MUI/VI/2008. PBS series will be issued using Ijarah Asset to be Leased structure, based on Fatwa DSN-MUI number 76/DSN-MUI/VI/2010. The underlying asset for SPN-S is in the form of State Owned Assets (BMN) which is approved by the House of Representative and has met the requirements stated in Article 2 section 4 of the Minister of Finance Regulation number 99/PMK.08/2021 concerning Amendments to the Regulation of the Ministerof Finance number 205/PMK.08/2017 on Use of State Owned Assets as the basis for the issuance ofstate shariaq securities. The underlying asset of PBS series are in the form of projects/activities listed in 2024 State Budget which has been approved by the House of Representatives on Law Number 19 Year 2023 about State Budget Fiscal Year 2024, and in a form of BMN, including green projects/assets. The issuer of SBSN is Perusahaan Penerbit SBSN Indonesia which is a legal entity established based on Law Number 19 year 2008 on Sovereign Sharia Securities and by Government Regulation number 57 year 2008. Further Information: Directorate of Islamic Financing Directorate General of Budget Financing and Risk Management Ministry of Finance Republic of Indonesia Website: www.djppr.kemenkeu.go.id Phone: (+6221) 3505052 Ext: 2502, (+6221) 3515296 Fax: (+6221) 3510728
Names mentioned 20 people and organisations named in the text · linked when the evidence is strong
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DR. WAHIDIN RAYA
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PT. BankCIMB Niaga
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PT. Danareksa Sekuritas
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PT. Trimegah Sekuritas Auction
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PT. Bahana Sekuritas
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Deposit Insurance Corporation
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Bank Indonesia
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Ministry of Finance. The Registered Auction Participants
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Minister of Finance Regulation
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Directorate General of Budget Financing and Risk Management Ministry of Finance Republic of Indonesia
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