The IILM issues USD1.11 billion of short-term Sukūk
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.
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.
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About IILM
The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shari’ah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services (IIFS).
The current members of the IILM Governing Board are the central banks and monetary agencies of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector.
Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations.
The IILM is hosted by Malaysia and headquartered in Kuala Lumpur.
Media Enquiries:
The International Islamic Liquidity Management Corporation (IILM)
T: +60(3) 2170 5000
www.iilm.com
