CORRECTED-Islamic finance body IILM to reissue 3 and 6 month sukuk next week

The Malaysia-based International Islamic Liquidity Management Corp (IILM) will hold two auctions next week to issue a combined $990 million worth of sukuk, under a programme that is now authorised to issue $3 billion in short-term paper. The IILM will auction $490 million worth of three-month sukuk and $500 million of six-month sukuk next Tuesday. It is only the second time the IILM has issued six-month paper. The IILM programme, rated A-1 by Standard and Poor's, has $1.85 billion worth of sukuk currently outstanding. Its sukuk programme permits maturities of up to one year.