Sultanate of Oman OR250 million sovereign sukuk

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