IILM issues US$1.11 bil short-term sukuk

TheEdge Tue, May 04, 2021 09:51pm - 4 days ago

KUALA LUMPUR (May 4): The International Islamic Liquidity Management Corp (IILM) has completed its short-term sukuk reissuance amounting to US$1.11 billion (US$1= RM4.12).

In a statement today, IILM said the short-term sukuk programme is rated A-1 by S&P Global Ratings, with a current outstanding issuance size amounting to US$3.51 billion.

The transaction comprises US$400 million one-month tenor priced at 0.3 %, US$400 million three-month tenor at 0.35%, and US$310 million six-month tenor at 0.42%.

"Today’s sukuk reissuance resulted in strong demand from Islamic primary dealers and investors, especially from the Gulf Cooperation Council.

“The order book was in excess of US$1.63 billion representing an average oversubscription rate of 1.48 times," it said.

The IILM’s year-to-date cumulative issuances have increased to US$6.11 billion, following the sukuk reissuance. 

The corporation said it would continue to reissue its short-term sukuk on a monthly basis as per its issuance calendar.


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