Energy Development Oman (Energy Oman) has opened subscriptions for Category I of its second Omani rial (OMR) Sukuk issuance, offering institutional investors a fixed annual profit rate of 5 per cent over a five-year tenor.
Subscriptions will
remain open until November 12, 2026, with non-individual investors required to
submit physical application forms and yield tables through any of the
designated collecting banks.
Applicants must also
hold an investor account with the Muscat Clearing and Depository (MCD).
The initial issuance
is valued at OMR50 million ($130 million), with an option to increase the size
by a further OMR 25 million through a greenshoe option.
Profit payments will
be made quarterly.
The Sukuk is
structured in accordance with Islamic financing principles of Ijarah (leasing)
and Wakala (agency), and has received approval from the Sharia Supervisory
Board of Muzn Islamic Banking, National Bank of Oman.
Sultan Al Mamari,
chief financial officer of Energy Oman, said the issuance offers institutional
investors an attractive, low-risk investment opportunity, supported by the
company's strong and stable credit profile.
Following the closure
of Category I subscriptions, the cut-off yield and fixed price for Category II
investors are expected to be announced on or around November 16.
The second
subscription window will run from November 18 to 30, 2026.
Bank Nizwa and
National Bank of Oman are serving as joint issue managers, while Oman
Investment Bank has been appointed as liquidity provider.
The Sukuk is scheduled
to be listed on the Muscat Stock Exchange on or around December 10,2026, following allocation and
settlement. -OGN/TradeArabia News Service
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