Kuala lumpur: The International Islamic Liquidity Management Corporation (IILM) has completed the reissuance of an aggregate US$960 million short-term sukuk across three different tenors of one, three, and six months.

According to BERNAMA News Agency, the international organisation stated that the one-month tenor was offered at 4.30 per cent for US$260 million, the three-month tenor at 4.20 per cent for US$550 million, and the six-month tenor at 4.12 per cent for US$150 million.

The transaction marks the IILM’s sixteenth sukuk auction year-to-date, bringing total issuances to US$16.61 billion across 49 sukuk series of varying tenors. This issuance follows closely on the heels of last week’s US$1.285 billion offering.

The auction attracted demand from the IILM’s network of primary dealers and a diversified base of global investors, generating total bids of US$2.3 billion. It achieved an average bid-to-cover ratio of 2.4 times, underscoring the continued role of the IILM sukuk as a liquidity management instrument.