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Oil and gas producer Energy Development Oman has mandated a 10-year dollar-denominated Islamic bond, becoming the latest to tap debt markets amidst a regional frenzy since the start of 2026.
The state-owned energy company, rated BBB–/BBB– (S&P/Fitch), has mandated Citigroup, JP Morgan and Standard Chartered as joint global coordinators, as well as joint lead managers and bookrunners, alongside Dubai Islamic Bank, HSBC, KFH Capital, Mashreq and Sohar International.
Investor calls will commence Tuesday.
EDO Sukuk will be the trustee of the Regulation S sukuk, with EDO Gas SPC named obligor and Energy Development Oman as the guarantor.
In October, the company listed a sukuk worth 50 million Omani rials ($130 million) on the Muscat Stock Exchange, structured under Al Ijarah and Al Wakalah certificates, with an annual profit rate of 4.40%.
(Writing by Bindu Rai, editing by Seban Scaria)
