IILM Concludes Reissuance Of US$990 Mln Short-Term Sukuk


KUALA LUMPUR, The International Islamic Liquidity Management Corp (IILM) has successfully completed the reissuance of an aggregate US$990 million (US$1=RM4.36) short-term sukuk across three different tenors of one, three, and six-month respectively.

The three series were priced competitively at 5.35 per cent for US$330 million for one-month tenor; 5.15 per cent for US$350 million for three-month tenor; and 5.00 per cent for US$310 million for six-month tenor.

The latest sukuk issuance marks the IILM’s tenth auction for the year.

‘The IILM’s sukuk reissuance today witnessed a competitive tender among Primary Dealers and investors from markets across the Gulf Cooperation Council, Europe, and Asia, with a combined orderbook in excess of US$2.05 billion, representing an average bid-to-cover ratio of 207 per cent,’ IILM said in statement today.

Year-to-date, the IILM has issued a cumulative US$9.37 billion across 30 sukuk series.

Source: BERNAMA News Agency

  • malaysiang

    Related Posts

    DOST eyes biz startup support hub in Tacloban City

    TACLOBAN CITY – The Department of Science and Technology (DOST) has forged partnership with the Philippine Chamber of Commerce and Industry (PCCI) Tacloban-Leyte chapter to support the Innovation Hub (iHub) as one of the ways to help small enterprise…

    Senate commits to fast-track bill supporting PBBM’s ban on POGOs

    MANILA – The Senate is determined to pass a bill that will bolster the declaration of President Ferdinand R. Marcos Jr. on totally banning Philippine Offshore Gaming Operators (POGOs) in the country, Senator Sherwin Gatchalian said on Thursday.

    In a…