22.06.2011 - Indonesia: Sukuk sales on hold until house gives approval
Indonesia has postponed Islamic bond sales for the past eight weeks as legislators delay approvals needed for new securities. The government postponed auctions of rupiah sukuk due in five, 10 and 15 years on May 31 and June 14. Local companies have sold Rp 200 billion ($23 million) of Islamic bonds this year, compared with Rp 700 billion in 2010. Investors are asking for higher yields to hold the sukuk because of concern they will struggle to find buyers, said Helmi Arman, a bond strategist at Bank Danamon Indonesia..............................................Full Article: Source
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