New Issue: Oman sells $1.5 billion seven-year sukuk at mid-swaps plus 280 bps

By Rebecca Melvin

New York, Oct. 25 – Oman Sovereign Sukuk SAOC, an entity of the government of the Sultanate of Oman, priced a $1.5 billion seven-year sukuk (ratings: Baa3//BBB-) at par to yield mid-swaps plus 280 basis points on Wednesday, according to a syndicate source.

The sukuk’s distribution rate is 5.932%. Pricing came tight to initial price thoughts of mid-swaps plus 285 bps.

Gulf International Bank, HSBC, JPMorgan, KFH Capital and Standard Chartered Bank were joint bookrunners for the Rule 144A and Regulation S sukuk.

Issuer:	Oman Sovereign Sukuk SAOC
Obligor:	Government of the Sultanate of Oman
Amount:	$1.5 billion
Description:	Sukuk
Maturity:	Oct. 31, 2025
Bookrunners:	Gulf International Bank, HSBC, JPMorgan, KFH Capital and Standard Chartered Bank
Distribution rate:	5.932%
Price:	Par
Yield:	5.932%
Spread:	Mid-swaps plus 280 bps
Trade date:	Oct. 24
Settlement date:	Oct. 31
Ratings:	Moody’s: Baa3
	Fitch: BBB-
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 285 bps

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