Oman issues RO200 million Sukuk

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هذه الصفحة متوفرة بهذه اللغة: العربية

22 September 2020

MUSCAT (WAF): Oman’s Ministry of Finance has completed the Series 3 of the Omani Rial Sukuk Issuance Programme, by issuing sovereign Sukuk worth 200 million Omani Rials ($520 million), the issue’s prospectus published by Muscat Securities Market (MSM) shows.

According to the prospectus, the new issue, due in 2026, has an annual profit rate of 5.25% paid on a semi-annual basis in March and September of each year.

The 2 million Sukuk were offered with a nominal value of 100 Rials/Suk during the period of 9-16 September 2020 via Book Building.

On 9 September, the Omani Ministry of Finance announced a new sovereign Sukuk issue in Omani Rials to meet the requirements of the state’s general budget and appointed Bank Muscat and its Islamic window, “Meethaq”, to manage the issue. The Ministery said then, in a statement, that it is part of the sovereign Sukuk program launched last year.

Earlier this year, the Sultanate completed the issuance of local development bonds worth 550 million Omani Rials ($1.43 billion), and the signing of a bridge loan agreement worth 770 million Omani Rials ($2 billion).