International Islamic Liquidity Management Corporation Completes Final Reissuance of 2020 with USD 900 Million Sukuk

The International Islamic Liquidity Management Corporation (IILM) has announced the successful completion of its final reissuance of 2020, with the auction of A1-rated short-term Sukuk worth USD 900 million.

According to a statement issued by IILM on the 8th of December 2020, the Sukuk was issued in two series made up of a USD 400 million issuance with a one-month tenure and a profit rate of 0.35%, and a USD 500 million issuance with a three-month tenure carrying a profit rate of 0.42%. The Sukuk was oversubscribed by 1.6 times, with a combined order book in excess of USD 1.45 billion. IILM stated that the reissuance had generated strong investor demand across both series from primary dealers from both the Gulf Cooperation C...