Indonesia raises 1.05 trln rph from sukuk auction

JAKARTA Tue Feb 19, 2013 3:36am EST

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JAKARTA Feb 19 (Reuters) - Indonesia's finance ministry raised 1.05 trillion rupiah ($108.47 million) of sharia bonds at an auction on Tuesday, lower than a target of 1.5 trillion rupiah.

The government sold project-based sukuk maturing in five and 24 years, with total incoming bids of 2.264 trillion rupiah.

Yields were little changed from the previous auction earlier this month.. The highest bid-to-cover ratio was 1.98 for its five-year project-based sukuk.

Indonesia, Southeast Asia's largest economy, aims to raise 57.5 trillion rupiah of conventional and sharia bonds in the first quarter of the year. So far it has raised more than 52 percent of this target.

($1 = 9,680.5 rupiah) (Reporting by Rieka Rahadiana; Editing by Neil Chatterjee)