International Islamic Liquidity Management Corporation Reissues USD 1.070 Billion Short-Term Sukuk

The International Islamic Liquidity Management Corporation (IILM) has announced the successful completion of an auction for the reissuance of A1-rated short-term Sukuk worth USD 1.070 billion.

According to a statement issued by the IILM on the 10th of November 2020, the Sukuk had an average oversubscription ratio of 145%, with a combined order book in excess of USD 1.56 billion. The Sukuk was issued in three series with different tenures: a USD 400 million issuance with a one-month tenure and a profit rate of 0.35%, a USD 460 million issuance with a three-month tenure carrying a profit rate of 0.44%, and a USD 210 million issuance with a six-month tenure and a profit rate of 0.51%.

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