IILM concludes second auction for 2021 with highest reissuance amount of $1.35 bln short-term sukuk
Kuala Lumpur, Malaysia – 15 February 2021 - The International Islamic Liquidity Management Corporation (IILM) is pleased to announce that it has successfully completed the auction of USD 1.35 billion short-term Ṣukūk across three different tenors comprising 1-month for USD 400 million at 0.25%, 3-month for USD 500 million at 0.35% and 6-month for USD 450 million at 0.40%.
Today’s second issuance of the year marks another milestone for the IILM as its highest issuance size since inception. The IILM’s engagement and partnership with its Primary Dealers and investors across various jurisdictions have resulted in robust demand for its Ṣukūk in the current low rate market environment.
The tender resulted in significant interest from Middle East based Primary Dealers and both Middle Eastern and Asian investors, with a final orderbook in excess of USD 2.3 billion, representing an average oversubscription rate of 1.8 times.
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