International Islamic Liquidity Management Corporation Issues USD 1.15 Billion Short-Term Sukuk; Inaugural 2021 Transaction

Marking its inaugural transaction of 2021, the International Islamic Liquidity Management Corporation (IILM) has announced the successful completion of an auction for the total issuance of short-term Sukuk worth USD 1.15 billion (MYR 4.646 billion), which is part of the IILM’s A-1 rated USD 4.0 billion short-term issuance programme.

According to a statement issued by IILM on the 19th of January 2021, the Sukuk was issued in three series made up of a USD 400 million issuance with a one-month tenure and a profit rate of 0.28%, a USD 500 million issuance with a three-month tenure carrying a profit rate of 0.40%, as well as a USD 250 million issuance with a six-month tenure and a profit rate of 0.40%.

The Sukuk issuance was oversubscribed by 1.8 times, with a comb...