IslamicFinance.de

Book-building process for the Omantel sukuk via private placement is currently being done. The proposed OMR50 million issuance is the country’s first multi-denominated sukuk, offered in both Omani rials and US dollars. The bankers have been holding one-on-one meetings with key investors, and said that the issuance is gathering pace amongst both Omani and international investors. The sukuk will have a tenor of 5 years and mature in 2021. The minimum subscription amount for the sukuk is OMR100,000 or $260,000. The profit rate on the sukuk will be set through a uniform price auction and will be finalised upon closing of the subscription period. Interested investors can get further information on the sukuk from the Investment Banking Division of National Bank of Oman who are acting as the issue manager and collecting bank. Subscription closes on January 26.