International Islamic Liquidity Management Corporation Issues USD 900 Million Sukuk

Malaysia’s International Islamic Liquidity Management Corporation (IILM) announced the successful completion of an auction for the issuance of A1-rated short-term Sukuk worth USD 900 million.

According to IILM, the Sukuk was oversubscribed by 1.77 times, with an order book that came in at over USD 1.59 billion. The Sukuk was issued in two series: a USD 400 million issuance with a one-month tenure and a profit rate of 0.22%, and a USD 500 million issuances of three-month tenure carrying a profit rate of 0.43%.

A statement issued by the IILM noted that the final profit rate of the two series was within the indicative pricing guidance across both tenures issued under this programm...