By Rebecca Melvin
New York, Nov. 2 – Oman’s Mazoon Assets Co. SAOC, a special purpose vehicle of Mazoon Electricity Co. SAOC, priced $500 million of 10-year unsecured senior Sukuk certificates (expected rating: Baa2) on Wednesday with a 5.2% coupon, according to a market source.
Price guidance on the Rule 144A and Regulation S paper was for a yield of 5.2% to 5.25%.
J.P. Morgan Securities plc was stabilization coordinator, and Bank Muscat, First Abu Dhabi Bank and KFH Capital were stabilization managers for the deal.
| Issuer: | Mazoon Assets Co. SAOC
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| Guarantor: | Mazoon Electricity Co. SAOC
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| Issue: | Senior unsecured Sukuk certificates
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| Amount: | $500 million
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| Maturity: | 2027
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| Dealers: | J.P. Morgan Securities plc (stabilization coordinator); and Bank Muscat, First Abu Dhabi Bank and KFH Capital (stabilization managers)
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| Coupon: | 5.2%
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| Pricing date: | Nov. 1
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| Rating: | Moody’s: Baa2
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | 5.2%-5.25%
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