IILM Sees Year-To-Date Cumulative Issuances of USD 14.1 Billion; Highest Since 2013

The International Islamic Liquidity Management Corporation (IILM) has seen year-to-date cumulative issuances of a total of USD 14.1 billion across 36 US dollar-denominated short-term Sukuk series, which is the highest to date since its first issuance in 2013. It recently completed the auction for the reissuance of an aggregate USD 1.1 billion short-term “A-1” rated Sukuk across three tenors of one, three, and six months. They were priced as follows: i) 0.17% for USD 450 million for the one-month tenor, ii) 0.26% for USD 450 million for the three-month tenor and iii) 0.36% for USD 200 million for the six-month tenor.

Why it Matters?

The IILM is a frequent issuer of short-term Sukuk in a variety of tenors and amounts to meet the liquidity ne...