Ministry of Finance issues tranche of Sukuk worth $ 1.75 billion
Published: 11:06 AM,Jun 09,2021 | EDITED : 03:06 PM,Jun 09,2021
Ministry of Finance building in Muscat
Ministry of Finance has successfully issued a tranche of Sharia Compliant Sukuk, achieving oversubscription by more than 6.5 times.
'Ministry of Finance has succeeded in issuing a tranche of Sukuk (Sharia-compliant) worth US$ 1.75 billion with a 9-year maturity, as part of funding process incorporated in the Government's plan to fund financial needs of 2021, which maintains a disciplined public-debt profile.'
The bonds that received high demand from international investors and investment institutions were oversubscribed by more than 6.5 times. The bid totaled more than US$ billion.
Highlights
Lower interest rates of the issued Sukuk as compared to the previous issuance.
An interest rate of 4.875%.
Investors from Gulf, Asian, European, and American markets.
'Ministry of Finance has succeeded in issuing a tranche of Sukuk (Sharia-compliant) worth US$ 1.75 billion with a 9-year maturity, as part of funding process incorporated in the Government's plan to fund financial needs of 2021, which maintains a disciplined public-debt profile.'
The bonds that received high demand from international investors and investment institutions were oversubscribed by more than 6.5 times. The bid totaled more than US$ billion.
Highlights
Lower interest rates of the issued Sukuk as compared to the previous issuance.
An interest rate of 4.875%.
Investors from Gulf, Asian, European, and American markets.