The IILM Issues a total of USD 600 million Ṣukūk
Kuala Lumpur, Malaysia – 12 May 2020 - Today, the International Islamic Liquidity Management Corporation (IILM) has successfully conducted its auction by issuing two short-term A-1 rated Ṣukūk for a total amount of USD 600 million.
The auction garnered an order book of more than USD 1.17 billion, bringing the average bid-to-cover ratio of the two tranches to 195%. With over 40 orders from diversified investors, the allocations across all tenors are well spread across regions from Asia to GCC and Europe.
The USD 300 million 1-month Ṣukūk offer a profit rate of 0.33%, while the USD 300 million 3-month offer 0.50%, falling at the low end and below the low end of the initial pricing guidance for the 1-month series and the 3-month series, respectively.
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