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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

Indonesia sells $1 bln Islamic bonds to yield 4 pct

Posted on 15 November 2011

President Susilo Bambang YudhoyonoIndonesia sold $1 billion of seven- year Shariah-compliant bonds to yield 4 percent yesterday, helping the nation revive Islamic debt sales amid the slowest half in three years. The securities sold at 100 cents on the dollar, according to data compiled by Bloomberg. HSBC Holdings Plc, Citigroup Inc. and Standard Chartered Plc managed the sale.

Indonesia, which is rated BB+ by Standard & Poor’s, one level below investment grade, sold a debut $650 million worth of dollar-denominated sukuk in April 2009. The bonds, due in April 2014, sold to yield 8.8 percent………………………………………Full Article: Source

 
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