The International Islamic Liquidity Management Corp Issues USD 1.06 Billion Sukuk

The International Islamic Liquidity Management (IILM) announced the successful completion of an auction for the issuance of A1-rated short-term Sukuk worth USD 1.06 billion. According to IILM, the Sukuk was oversubscribed by 0.62 times, with an order book that came in at over USD 1.72 billion.

The Sukuk was issued in three series: a USD 400 million issuance with a one-month tenure and a profit rate of 0.33%, a USD 460 million three-month tenure carrying a profit rate of 0.45%, and a seven-month issuance worth USD 200 million, carrying a profit rate of 0.58%.

A statement issued by the IILM stated that the final profit rate is based on the indicative pricing guidance across all the te...