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Oman’s $1 billion USD Reg S seven-year long fixed rate sukuk has been priced at 4.525%, representing a spread of 60 basis points over the US Treasuries.
The initial price thoughts (IPTs) were in the area of +95bps over US Treasuries.
The issuance, structured as Sukuk Al-Ijara, was launched under Rule 144A / 3(c)(7) and Regulation S Category 2 format, and will be listed on the London Stock Exchange’s Main Market.
The obligor, the Government of Oman, is rated Baa3 (Stable) by Moody’s, BBB- (Stable) by S&P, and BB+ (Positive) by Fitch. The expected issue ratings are aligned with the sovereign’s long-term ratings from Moody’s and S&P.
(Writing by Brinda Darasha; editing by Daniel Luiz)
