International Islamic Liquidity Management Corporation Reissues Sukuk Worth USD 1.12 Billion in 3 Series 

The International Islamic Liquidity Management Corporation (IILM) has announced its reissuance of short-term A-1 rated Sukuk worth USD 1.12 billion in three series, on the 8th of November 2022.

Why it Matters?

The reissuance, which represents the 12th Sukuk auction by the IILM for 2022, has drawn interest from Islamic primary dealers and investors in the Gulf Cooperation Council (GCC) markets and Asia. With a total order book exceeding USD 1.71 billion and an average bid-to-cover ratio of 153%, the competitive tender experienced a strong overall demand.

Details

The three series consist of a one-month tenor offering of USD 450 million at 4.02%, a three-month tenor issuance of USD 370 million at 4.78%, and an offering of...