Malaysia-based International Islamic Liquidity Management Corporation (IILM) has issued a $490 million short-term A-1 rated sukuk of six-month tenor to fund the acquisition of a new asset.
The issuance was priced by the market at 0.6 percent and the orderbook reached $537 million.
“Today’s issuance of $490 million marks the inclusion of a new high credit quality asset, increasing the IILM’s asset pool from $2.51 billion to $3 billion, the maximum programme capacity,” Umar Oseni, the IILM CEO said.
With today’s issuance, the total outstanding IILM sukuk will be $3 billion.
Source Zawya