IILM REISSUES US$460 MLN SUKUK

MOHD ISWANDI KASAN ANUAR

KUALA LUMPUR, Nov 27 (Bernama) -- The International Islamic Liquidity Management Corporation (IILM) has reissued ‘A-1’ short-term sukuk amounting US$460 million (US$1=RM4.18) with four-month tenor for the first time since 2017 at a profit rate of 1.92 per cent.

In a statement today, the corporation said the demand for the sukuk series reached a bid-to-cover ratio of 179 per cent with an order book of US$825 million.

The sukuk was priced at 1.92 per cent under the competitive auction methodology, compared to the indicative pricing guidance range between 1.93 per cent and 1.99 per cent.

“Purchases by Islamic primary dealers in the primary auction amounted to 91 per cent of the total amount issued today,” it noted.

The IILM has issued a total amount of some US$8.60 billion through 28 sukuk year-to-date and offering seven tenors from two-week up to six-month.

-- BERNAMA