February 25, 2014 / 8:12 AM / 3 years ago

Indonesia raises 1 trln rph from sharia bonds, below target

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JAKARTA, Feb 25 (Reuters) - Indonesia's finance ministry raised 1 trillion rupiah ($85.86 million) at a sukuk auction on Tuesday, below an indicative target of 1.5 trillion rupiah, the ministry's debt office said.

Southeast Asia's biggest economy only sold six-month sharia T-bills with a yield 6.16786 percent, compared with 6.48549 percent in the previous auction on Feb. 11.

There were no winning bids for the six-, 13- and 29-year project-based sukuk.

Total bids were 5.693 trillion rupiah, higher than 5.349 trillion rupiah from previous auction.

On Feb. 11, the ministry raised 6 trillion rupiah of sukuk via a private placement to the state-managed Islamic Haj Fund

$1 = 11,647.5 rupiah Reporting by Andjarsari Paramaditha; Writing by Nilufar Rizki; Editing by Kim Coghill

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