Omantel says scraps plans to issue $130 mln dual-currency sukuk
Oman Telecommunications Co (Omantel) has scrapped plans to issue a $130 million five-year dual-currency sukuk, the former monopoly said. Last month, the state-run company priced the sukuk at a profit rate of 5.3 percent, having received commitments worth $82.16 million in the dollar tranche and 18.4 million rials ($47.86 million) in the rial tranche. But Omantel has shelved plans to issue the sukuk at the present time, it said in a statement to Muscat's bourse. The company said it took this decision following discussions with its advisers, but did not elaborate.
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