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Oman’s first sovereign sukuk to open for subscription 8 Oct

Oman’s first sovereign sukuk to open for subscription 8 Oct
Photo Credit: Arabianeye-Reuters

Mubasher: Oman’s first issue of sovereign sukuk worth OMR 200 million will be opened for subscription from 8 to 22 October, said the Ministry of Finance.

The issue will be open to sophisticated investors with a minimum subscription of OMR 500,000 ($1.3 million).

Moody’s Investors Service is expected to assign a provisional rating of A1 to the issuance which is in line with the country’s rating, the ministry added.

Bank Muscat is the sole issue manage, the ministry said, adding that the joint lead managers are the bank together with its Islamic window Meethaq, and Standard Chartered Bank.