TABLE-Indonesia raises 200 bln rph from sukuk, below target

JAKARTA, Oct 27 - Indonesia raised 200 billion rupiah ($20.97 million) from the sale of Islamic bonds maturing in 2015, the finance ministry said in a statement on Tuesday, well below its target of 1.5 trillion rupiah for sukuk sales.

The ministry had also planned to sell sukuk maturing in 2020 and in 2024, but there were no winning bids, the ministry said. Proceeds from the sukuk sales are intended to help fund the budget deficit, forecast at 2.4 percent this year.

The finance ministry failed to raise any funds from sukuk auctions on Oct. 13, the first of its regular sukuk debt sales, as investors sought higher yields.

Based on Reuters calculations, the finance ministry has so far raised about 95 percent of the 144.5 trillion rupiah debt issuance target for this year.

Following are the results of the auctions. Bids are in trillion rupiah, yields are in percent.

IFR0003 IFR0004 IFR0005 Incoming bids (trln rph) 1.421 1.138 1.614 Winning bids (trln rph) 0.200 - - - Competitive bids 0.140 - - - Non competitive bids 0.060 - - Lowest yield (pct) 9.50000 10.40000 10.75000 Highest yield (pct) 10.50000 11.25000 11.75000 Weighted avg yield (pct) 9.59933 - - Bid to cover ratio 7.10 - - NOTE: The highest and lowest yields refer to incoming bids, not bids absorbed by the ministry. ($1 = 9,535 rupiah)