Monday 12 October 2015

IILM reissues US$860 million sukuk, adds two partners

The International Islamic Liquidity Management Corporation (IILM) has reissued US$860 million worth of sukūk. The three-month tenor sukūk, priced at 0.63960% profit, marks the 20th series of short-term IILM sukūk.

The IILM has also disclosed that Qatar Islamic Bank and Boubyan Bank are now in the list of its primary dealers, extending IILM's distribution network to 11 primary dealers. The reissuance was fully subscribed by the following primary dealers, in alphabetical order:

Abu Dhabi Islamic Bank
Al Baraka Turk
Barwa Bank
Boubyan Bank
CIMB Islamic Bank
Kuwait Finance House
Maybank Islamic
National Bank of Abu Dhabi
Qatar Islamic Bank
Qatar National Bank; and
Standard Chartered Bank.

As at October 2015, the IILM sukūk that have been issued and reissued were worth US$12.69 billion.