International Islamic Liquidity Management Corporation Reissues USD 1.1 Billion 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 1.1 billion.

According to a statement issued by the IILM, the Sukuk was oversubscribed by 1.50 times, with a combined order book in excess of USD 1.6 billion. The Sukuk was issued in three series: a USD 400 million issuance with a one-month tenure and a profit rate of 0.26%, a USD 500 million issuance with a three-month tenure carrying a profit rate of 0.45%, and a USD 200 million issuance with a six-month tenure and a profit rate of 0.46%.

IILM stated that the reissuance generated robust demand from invest...