IILM Issues Landmark USD 510 Million Short-Term Sukuk; Upsizes Issuance Programme to USD 4 Billion

Malaysia-based International Islamic Liquidity Management Corporation (IILM) has successfully issued two series of short-term A-1 rated Sukuk worth USD 510 million, according to a statement released by IILM on the 22nd of September 2020.

The two new Sukuk issuances of USD 210 million and USD 300 million with six-week and six-month tenures, were priced at 0.24% and 0.47% respectively, with the six-week tenure being a new introduction to the market. The orderbook of both issuances closed in excess of USD 888 million, with significant demand seen from primary dealers and investors based in the Gulf Cooperation Council, according to the statement.

The total outstanding IILM Sukuk issua...