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FINANCIAL NEWS
Oman to sell USD520m Islamic bond
12 May 2015
(MENAFN) The Sultanate of Oman is set to sell an Islamic bond (Sukuk) worth USD520 million using a private settlement, according to the Ministry of Finance, Gulf News reported.
The Islamic bond issue has been approved on regulatory basis and it is now on the way for a more intermediate and advanced documentation and coordinating, the Director-General of Treasury at the Ministry of Finance said.
“The sovereign Sukuk issue will be through a private placement process and marketed primarily to Islamic financial institutions, and sophisticated investors with a minimum subscription amount of 500,000 rials,” the Director-General added.
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