Oman has successfully priced a $1 billion seven-year USD sukuk at 4.525%, narrowing the gap over U.S. Treasuries to 60 basis points from earlier expectations of around 95 basis points.
The deal, structured under Sukuk Al-Ijara, follows Rule 144A / 3(c)(7) and Regulation S Category 2 guidelines, and is set to trade on the London Stock Exchange’s Main Market.
The Gulf nation carries sovereign ratings of Baa3 (Stable) from Moody’s, BBB- (Stable) from S&P, and BB+ (Positive) from Fitch. The sukuk’s anticipated ratings track closely with Oman’s long-term sovereign standings.
