The Sukuk were reissued in two different tenors, $200 million with one-month tenor at a profit rate of 2.63 per cent and $400 million with three-month tenor at a profit rate of 2.72 per cent.
Thursday 09, May 2019 BY KUDAKWASHE MUZORIWA
The International Islamic Liquidity Management Corporation (IILM) has reissued $600 million short-term Sukuk in two series, reported local daily, The Edge Markets.
In a statement, IILM stated that the reissuance received demand across the two series, with a bid-to-cover ratio of 259 per cent for the one-month Sukuk and 248 per cent for the three-month Sukuk.
The company said that the purchases by Islamic primary dealers in the primary auction for the one-month and three-month Sukuk amounted to 95 per cent and circa 80 per cent, respectively.