International Islamic Liquidity Management Corporation Issues USD 600 Million Sukuk

Malaysia’s International Islamic Liquidity Management Corporation (IILM) has issued two short-term one-month and three-month Sukuk for a total amount of USD 600 million. The total value of each Sukuk is USD 300 million.

According to IILM, the auction attracted over USD 1.19 billion in demand, with an average bid-to-cover ratio of 198% for both series. The allocation was dominated by GCC-based Islamic primary dealers across the board.

According to media reports, the one-month Sukuk was issued at a profit rate of 0.27% whilst the three-month Sukuk carried a profit rate of 0.40%.

Standard & Poor’s has rated IILM’s short-term Su...