Mum seeks donations for cancer-stricken child [ 6m ago ]

BUSINESS News


IILM reissues US$1.11 billion sukuk

Last update: 11/09/2019
KUALA LUMPUR, Sept 11 -- The International Islamic Liquidity Management Corporation (IILM) has reissued ‘A-1’ short-term Sukuk amounting to US$1.11 billion (US$1=RM4.17) in three tranches.

The sukuk comprises US$450 million with one-month tenor at a profit rate of 2.10 per cent, US$460 million with three-month tenor at a profit rate of 2.15 per cent and US$200 million with six-month tenor at a profit rate of 2.16 per cent.

In a statement today, the corporation said the demand for the one-month, three-month and six-month Sukuk series reached bid-to-cover ratio of 154 per cent, 170 per cent and 222 per cent, respectively.

“The one-month Sukuk has been issued five basis points below the three-month, while the three-month and six-month Sukuk were merely priced flat at 2.15 per cent and 2.16 per cent, respectively,” it said.

IILM noted that purchases by Islamic Primary Dealers in the primary auction amounted to 81 per cent, 45 per cent and 54 per cent for the one-month, three-month and six-month Sukuk, respectively.

IILM is an international organisation established on Oct 25, 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shariah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services.

-- BERNAMA



       Previous Top Story