Sultanate of Oman OR250 million sovereign sukuk

1/11/2015
Sukuk, Sukuk al ijarah, Sovereign bond issue

OR 250 million

$ 649.435 million

Completed

1/11/2015


Overview:

  • The Sultanate of Oman has undertaken a OR250 million sovereign sukuk (Islamic bond).
  • The issue, due in 2020, is being undertaken via a private placement to Islamic banks and Takaful companies.
  • The issuer is an SPV established by Oman Sovereign Sukuk.
  • Bank Muscat and Standard Chartered acted as joint lead managers.
  • The deal represents the country's debut sovereign sukuk issue and the first Omani debt deal priced through a book building process.
  • The issue is based on an ijarah (sale and leaseback) structure involving the co-ownership interest in a plot of land located in Duqm.

Sam Duke - Editor

Jurisdictions:

Oman
United Arab Emirates

Deal types:

Sukuk
Sukuk al ijarah
Sovereign bond issue

Practice areas:

Capital markets : Debt
Islamic finance

Industry sector:

Government and public policy


Firms:

Party: Bank Muscat (Joint lead manager)

Party: Standard Chartered (Joint lead manager)

Lawyer: Bilal Ahmad


Party: Bank Muscat (Joint lead manager)

Party: Standard Chartered (Joint lead manager)


Party: Sultanate of Oman (Issuer)


Party: Sultanate of Oman (Issuer)

Lawyer: Salman Ahmed