Oman Grid begins roadshow; possible 10-year benchmark sukuk to follow

By Colin Hanner

Chicago, May 5 – Oman Electricity Transmission Co. SAOC began a roadshow on Thursday ahead of a possible 10-year benchmark sukuk, a market source said.

Investor meetings will end on Monday.

Fitch Ratings assigned an expected BBB rating to the upcoming senior unsecured notes.

The new notes will be issued by OmGrid Funding Ltd.

Proceeds will be used to fund capital expenditures and for general corporate purposes, the ratings agency said.

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