IILM reissues $860 mln sukuk

The International Islamic Liquidity Management Corporation (IILM) says that it has successfully reissued an $860 million three-month tenor sukuk priced at 1.07360 percent profit rate.

This is the 22nd series of short-term IILM sukuk rated A1 by Standard and Poor's. 

The reissuance was fully subscribed by 11 primary dealers: 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 January 2016, IILM sukuk that have been issued and reissued amount to $14.04 billion, according to IILM.