The IILM Issues a total of USD 1.01 billion Ṣukūk
Kuala Lumpur, Malaysia – 6 July 2020 - Today, the International Islamic Liquidity Management Corporation (IILM) has successfully reissued a total amount of USD 1.01 billion short-term A-1 rated Ṣukūk in three series of 1-month, 3-month and 6-month tenor.
The three issuances have been priced by the market as follows; i) USD 360 million of 1-month tenor at 0.27%; ii) USD 400 million of 3-month tenor at 0.43%; and iii) USD 250 million of 6-month tenor at 0.55%, respectively. The final pricing fell within the indicative pricing guidance across the tenors demonstrating the strong interest from both Primary Dealers and end-investors.
The tender resulted in significant demand from Middle Eastern, Asian and African investors, with an orderbook that closed in excess of USD 1.3 billion, representing an oversubscription rate of 1.38 times.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Press Release