The International Islamic Liquidity Management Corporation (IILM) announced today that it had reissued US$1 billion short-term sukuk in three tranches.
IILM said the sukuk, rated A-1 by Standard & Poor’s Rating Services, was reissued in different sizes, tenors and profit rates, namely: US$200 million with one-month tenor at a profit rate of 2.7390 per cent.
US$400 million with three-month tenor at a profit rate of 2.93 per cent, and US$400 million with six-month tenor at a profit rate of 2.99 per cent.
“This is the first time the IILM is offering three tenors on the same auction day since it commenced its issuances in August 2013,” it said in a statement.
The IILM is an international organisation established in October 2010, by central banks, monetary authorities and multi-lateral organisations to develop and issue short-term shariah compliant financial instruments.
Source The Edge Markets