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The International Islamic Liquidity Management Corporation (IILM) has issued a new batch of short-term sukuk worth $1.3 billion.
The latest offering is split into four tranches: $460 million (3.81%) maturing in one month, $635 million (3.84%) in three months, $155 million (3.82%) in six months, and $50 million (3.45%) in twelve months.
The auction for the bonds has been completed, attracting $2.915 billion in bids, more than double the amount available.
The short-term sukuk is distributed by Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank and Standard Chartered Bank.
The issuance is part of the $8.5 billion sukuk programme of IILM.
(Writing by Cleofe Maceda; editing by Seban Scaria)
