The IILM Issues a total of USD850 million sukuk
Kuala Lumpur, Malaysia – 15 January 2020. The International Islamic Liquidity Management Corporation (IILM) started its auction calendar today by issuing a total amount of USD 850 million short-term A-1 rated Ṣukūk in three series.
The three series comprises the; i) reissuance of USD 300 million with 1-month tenor at 1.85% and ii) issuance of two new series for a total of USD 550 million i.e. USD 300 million with 3-month tenor at 1.93% and USD250 million with 6-month tenor at 1.95%, respectively.
Today’s auction garnered an overall strong demand with a total order book of USD1.177 billion and a weighted average bid-to-cover ratio for the three Ṣukūk series at 138%.
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