IILM reissues US$500 million sukuk tranche

The International Islamic Liquidity Management Corporation (IILM) has successfully concluded an auction during which it reissued US$500 million of sukūk priced at a profit rate of 1.34806%.

The three-month tenor sukūk is the 31st series of short-term sukūk that the IILM has issued and reissued, and which Standard & Poor’s Rating Services has rated A-1. This series was fully subscribed by the following primary dealers, in alphabetical order: 

1. Abu Dhabi Islamic Bank 

2. Al Baraka Turk

3. Barwa Bank 

4. Boubyan Bank 

5. CIMB Islamic Bank 

6. Kuwait Finance House

7. Maybank Islamic 

8. National Bank of Abu Dhabi 

9. Qatar Islamic Bank

10. Standard Chartered Bank. 

The reissuance brings the total cumulative amount of IILM sukūk that have been issued and reissued to US$22.48 billion.