Kuala Lumpur: The International Islamic Liquidity Management Corporation (IILM) has announced the successful reissuance of an aggregate US$1.24 billion in short-term sukuk, spanning tenors of one, three, six, and 12 months.

According to BERNAMA News Agency, the organisation released a statement indicating that the four series were competitively priced. The one-month tenor was issued at 4.65 per cent for US$485 million, the three-month tenor at 4.40 per cent for US$310 million, the six-month tenor at 4.42 per cent for US$285 million, and the 12-month tenor at 4.40 per cent for US$160 million.

This reissuance signifies IILM’s eighth auction of the year, increasing its cumulative issuances to US$8.21 billion through 24 sukuk series of different tenors. The Chief Executive Officer of IILM, Mohamad Safri Shahul Hamid, highlighted the significance of this achievement, noting that it was the first time the organisation offered four different tenors in a single auction.

The auction generated substantial interest from primary dealers and investors worldwide, achieving a robust orderbook of US$2.65 billion. This reflects a strong average bid-to-cover ratio of 214 per cent, demonstrating sustained demand for IILM’s offerings.