Govt to issue savings bonds to finance green projects

04 November, 2020 | Source: Antara News

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).

  

The savings sukuk will be open for subscription from November 4 to 25, 2020, the Directorate General of Financing and Risk Management at the Finance Ministry said in a press statement released on Tuesday.

The two-year savings sukuk, due on November 10, 2022, carry a floating coupon rate. In the first period, in January, 2021 and February 10, 2021, the coupon will be set at 5.5 percent (in accordance with the BI 7-day reverse repo rate of 4 percent, plus spread of 150 bps).

The public can subscribe to the green sukuk through 31 distribution partners in e-SBN, with the minimum subscription set at Rp1 million and maximum subscription at Rp3 million.

The government believes that Indonesian citizens investing in savings sukuk can contribute to national development as well as help mitigate the impact of climate change.

Earlier, the government has issued five retail bonds 2020 series, SBR009, SR012, ORI017, SR013 and ORI018, to mop up Rp71.37 trillion in funds from the public.

 

 

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
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