Oman Sovereign Sukuk Company launches OMR100 million 12th sukuk issue

On behalf of the Sultanate of Oman, the Oman Sovereign Sukuk Company unveiled its twelfth local sovereign sukuk, valued at OMR 100 million and offering an optional uplift of up to OMR 50 million. The instrument carries a seven-year maturity and a fixed profit rate of 4.85% per annum, with profit distributions scheduled quarterly on 29 January, 29 April, 29 July and 29 October. Subscription opens on Monday, closes on 25 October, and the sukuk will settle on 29 October, with the final principal repayment due on 29 October 2033.

Investors may bid through a competitive auction at specified bank branches or via a non-competitive electronic track, the latter capped at OMR 10,000 per participant. Application forms and prospectuses can be downloaded from the Ministry of Finance website or the banks’ sites, and an investor number must be obtained from Muscat Clearing and Depository Company or the “Oman Stocks” app before submitting bids. The sukuk complies with Islamic Sharia and will be tradable on the Muscat Stock Exchange.