Kuala lumpur: The International Islamic Liquidity Management Corporation (IILM) has issued and reissued US$1.35 billion (US$1 = RM4.15) in short-term sukuk across five tenors, marking its widest range of maturities offered in a single auction.

According to BERNAMA News Agency, the sale was priced at 4.10 percent for US$290 million (one-month), 4.15 percent for US$385 million (two-month), 4.10 percent for US$365 million (three-month), 4.12 percent for US$210 million (six-month), and 4.05 percent for US$100 million for the new nine-month note. This new nine-month tenor enhances the organization’s liquidity tools, providing Islamic financial institutions with greater flexibility in managing Shariah-compliant funding.

The auction saw outstanding short-term sukuk rise to a record US$6.4 billion. It attracted bids totaling US$3.29 billion, achieving an average bid-to-cover ratio of 2.44 times. IILM’s chief executive officer, Mohamad Safri Shahul Hamid, highlighted that the new tenor satisfies the demand for long
er short-term placements that align with US dollar asset-backed commercial papers. He emphasized that expanding the maturity spectrum strengthens IILM’s value proposition by offering investors a more calibrated and efficient liquidity management toolkit.

This sale represents IILM’s twentieth auction of the year, bringing its 2025 issuance total to US$21.55 billion across 65 series. This is part of its US$8.5 billion program, which has been rated ‘A-1’ by S and P Global Ratings and ‘F1’ by Fitch Ratings. The primary dealers involved in the issuance include notable financial institutions such as Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, Al Rayan Bank, Boubyan Bank, CIMB Islamic Bank Bhd, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Bhd, Meethaq Islamic Banking of Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank.