Islamic Finance

IILM issues $1.11 billion of short-term sukuk

Kuala Lumpur, Malaysia – 4 May 2021 - The International Islamic Liquidity Management Corporation (IILM) is pleased to announce that it has successfully completed its short-term Ṣukūk reissuance with a total of USD 1.11 billion comprising USD 400 million 1-month tenor priced at 0.30%, USD 400 million 3-month at 0.35% and USD 310 million 6-month at 0.42%.

Today’s Ṣukūk reissuance resulted in strong demand from Islamic Primary Dealers and investors especially from GCC, with a strong orderbook in excess of USD 1.63 billion representing an average oversubscription rate of 1.48 times.

The IILM’s year-to-date cumulative issuances has increased to USD 6.11 billion following today’s Ṣukūk reissuance.  The IILM will continue to reissue its short-term Ṣukūk monthly as scheduled in its issuance calendar.

The total amount of IILM Ṣukūk outstanding is USD 3.51 billion.  The IILM short-term Sukūk programme is rated “A-1” by S&P.

Copyright Press Releases 2021


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