Energy Development Oman issues $650mln 10-year sukuk

Energy Development Oman issues $650mln 10-year sukuk

To support a portion of its annual capital expenditure requirements, diversify its funding sources, and optimise its capital structure

Energy Development Oman issues US dollar bonds worth RO 169 million

MUSCAT – The issuance forms part of the company’s strategy to finance a portion of its annual capital expenditure, diversify funding sources, and enhance the efficiency and flexibility of its capital structure. The sukuk were priced at a profit rate of 5.14 percent, with a margin of 100 basis points above ten-year US Treasury bonds, marking the lowest margin achieved by a government-owned company in the Sultanate of Oman.The issuance follows the…