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Financials

Indonesia raises 336 bln rph in sukuk private placement

JAKARTA, Aug 26 (Reuters) - Indonesia’s finance ministry sold 336 billion rupiah ($37.45 million) of Islamic-compliant bonds, known as sukuk, to the religious affairs ministry through a private placement, the debt office said late on Wednesday.

The bonds will help fund a budget deficit seen at 1.5 percent of gross domestic product this year.

The ministry also said that the non-tradable sukuk, with an equivalent 7.30 percent coupon, will mature in 2014. ($1=8972 Rupiah) (Reporting by Dicky Kristanto; Editing by Sara Webb)

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