The IILM Completes its Short-Term USD 1.11 Billion Sukuk Reissuance; Oversubscribed 1.48 Times

The International Islamic Liquidity Management Corporation (IILM) has completed its short-term Sukuk reissuance amounting to USD 1.11 billion, according to a statement released on the 4th of May 2021. The Sukuk, which marks IILM’s fifth issuance of 2021, comprised of USD 400 million one-month tenure priced at 0.30%, USD 400 million three-month tenure at 0.35% and USD 310 million six-month tenure at 0.42%.

Why it Matters?

The Sukuk reissuance saw strong demand from Islamic Primary Dealers, particularly from investors from the Gulf Cooperation Council region, with a robust orderbook exceeding USD 1.63 billion, representing an average oversubscription rate of 1.48 times. The IILM Sukuk are distributed and tradable globally through a multi-j...