• 27 Jan

    IILM conducts US$500 million sukuk, its first auction for 2019

     The International Islamic Liquidity Management Corporation (IILM) has conducted its first auction for this year of US$500 million short-term sukuk in two different series of 1-month tenor and 2-month tenor.

    The A-1 rated IILM sukuk by Standard & Poor’s Rating Services is for US$200 million with 1-month tenor at 2.75 per cent profit rate and US$300 million with 2-month tenor at 2.83 per cent profit rate.

    “This is the first issuance of 1-month tenor since the IILM commenced its issuances in August 2013 and it was well supported with demand for both series with a bid to cover a ratio of 277 per cent and 369 per cent for the 1-month and 2-month tenors, respectively,” it said in a statement.

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