Kuala Lumpur, Malaysia – 21 July 2020 - Today, the International Islamic Liquidity Management Corporation (IILM) has successfully issued a total amount of USD 490 million short-term A-1 rated Ṣukūk of 6-month tenor.
The auction was conducted to fund the acquisition of a new asset worth USD 490 million. The new 6-month Ṣukūk was priced by the market at 0.60% and the orderbook reached USD 537 million.
“Today’s issuance of USD 490 million marks the inclusion of a new high credit quality asset, increasing the IILM’s asset pool from USD 2.51 billion to USD 3 billion, the maximum programme capacity. The IILM would like to thank its Primary Dealers for their continuous support in subscribing and distributing the Ṣukūk to investors. The IILM will continue to fulfill its mandate to provide sufficient supply of high quality Shariah-compliant instruments to cater to the market demand and the liquidity needs of institutions offering Islamic financial services” said Dr. Umar Oseni, the IILM CEO.
With today’s issuance, the total outstanding IILM Ṣukūk will be USD 3 billion. The IILM Short-term Sukūk programme is rated “A-1” by S&P.
Copyright Press Releases 2020
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