KUALA LUMPUR, July 6 — The International Islamic Liquidity Management Corporation (IILM) has reissued a total amount of US$1.01 billion (RM4.3 billion) short-term A-1 rated sukuk in three series of one-month, three-month and six-month tenures.
It said the three issuances have been priced by the market as follows; US$360 million of a one-month tenor at 0.27 per cent, US$400 million of a three-month tenure at 0.43 per cent and US$250 million of a six-month tenure at 0.55 per cent.
“The final pricing fell within the indicative pricing guidance across the tenors, demonstrating the strong interest from both primary dealers and end-investors,” it said in a statement today.
IILM added that the tender resulted in significant demand from Middle Eastern, Asian and African investors, with an order book that closed in excess of US$1.3 billion, representing an oversubscription rate of 1.38 times.
“The IILM has entered the second half of its issuance calendar for 2020 with today’s auction. It has issued a cumulative amount of US$5.92 billion year-to-date, which accounts for 25 per cent of the global US$-denominated sukuk issued year-to-date,” he said. — Bernama
