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| 23 May, 2017

Oman starts marketing seven-year US dollar sukuk

Image used for illustrative purpose. Saudi traders monitor stocks at a Saudi Bank in Dammam.

Image used for illustrative purpose. Saudi traders monitor stocks at a Saudi Bank in Dammam.

REUTERS/Stringer

Books are open for pricing as early as today's business via Alizz Islamic Bank, Citigroup, Dubai Islamic Bank, Gulf International Bank, HSBC, JP Morgan and Standard Chartered

By Robert Hogg

LONDON, May 23 (IFR) - The Sultanate of Oman has started marketing a seven-year US dollar benchmark-sized sukuk offering at 270bp area over mid-swaps, according to a lead.

Books are open for pricing as early as today's business via Alizz Islamic Bank, Citigroup, Dubai Islamic Bank, Gulf International Bank, HSBC, JP Morgan and Standard Chartered (B&D).

The sovereign had signalled the possibility of an additional 12-year sukuk in its mandate but no further details have been provided on that tranche.

Expected issue ratings are Baa1 by Moody's and BBB by Fitch.

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(Reporting by Robert Hogg; editing by Sudip Roy) ((Robert.Hogg@thomsonreuters.com; +44 207 542 9077;))