The IILM concludes issuance of $900 million short-term sukuk
Kuala Lumpur, Malaysia – 8 June 2021 - The International Islamic Liquidity Management Corporation (IILM) has successfully closed its issuance calendar for the 2nd Quarter of 2021 today, by reissuing a total of USD 900 million short-term Ṣukūk which comprised of USD 400 million 1-month tenor priced at 0.26%, USD 300 million 3-month at 0.32% and USD 200 million 6-month at 0.37%.
Today’s Ṣukūk reissuance witnessed strong demand from Primary Dealers and investors mainly across Middle East and Asia, with an encouraging orderbook in excess of USD 1.4 billion representing an average oversubscription rate of 1.6 times.
“Conclusion of today’s USD 900 million auction, the first transaction post the Eid holidays, underscores continued strong support from our Primary Dealers and diverse investor base. With vaccination programmes gathering apace around the world, we remain optimistic on the issuance and market outlook for the second half of 2021.” said Dr Umar Oseni, Chief Executive Officer of the IILM.
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