IILM set to re-issue 3 and 6-month sukuk

Malaysia-based International Islamic Liquidity Management Corp (IILM) will hold two auctions next week to issue a combined US$990mil (RM3.6bil) worth of sukuk, under a programme that is now authorised to issue US$3bil (RM10.9bil) in short-term paper. The IILM would auction US$490mil (RM1.8bil) worth of three-month sukuk and US$500mil of six-month sukuk on Tuesday. It is only the second time IILM has issued six-month paper. The IILM programme, rated A-1 by Standard and Poor’s, has US$1.85bil (RM6.7bil) worth of sukuk currently outstanding.