KUALA LUMPUR, May 13 (Bernama) -- The International Islamic Liquidity Management Corporation (IILM) has completed the reissuance of an aggregate US$1.24 billion (US$1=RM4.318) short-term sukuk across tenors of one, three, six, and 12 months, respectively.
In a statement today, the organisation said the four series were priced competitively at 4.65 per cent for US$485 million for one-month tenor; 4.40 per cent for US$310 million for three-month tenor; 4.42 per cent for US$285 million for six-month tenor; and 4.40 per cent for US$160 million for 12-month tenor.
The completion of the short-term sukuk transaction marks IILM’s eighth auction year-to-date, with cumulative issuances totalling US$8.21 billion across 24 sukuk series of varying tenors.
“Today’s transaction marks yet another pivotal and historic milestone for IILM, as we offered four different tenors – one, three, six, and 12-month – for the first time in a single auction,” said IILM chief executive officer Mohamad Safri Shahul Hamid.
The auction saw a competitive tender amongst the primary dealers and Investors globally, with a healthy orderbook of US$2.65 billion, representing a strong and sustained average bid-to-cover ratio of 214 per cent.
-- BERNAMA
