BUSINESS REPORTER
MUSCAT, NOV 7
Oman International Development and Investment Company SAOG (Ominvest) announced today the successful completion of its RO 100 million Unsecured Perpetual Subordinated Sukuk Al Mudaraba Certificates issuance through a private placement.
The issuance strengthens Ominvest’s financial flexibility and extends the Group’s perpetual capital base ahead of the scheduled redemption of its 2021 Sukuk. The Sukuk was issued through its wholly owned subsidiary, Ominvest New Sukuk Issuance SPC, acting as issuer and trustee.
The private placement comprised a base offer of RO 80 million and a greenshoe option of RO 20 million. Investor demand at IPT represented subscription coverage of two times the full offer size, including the greenshoe. Ominvest exercised the greenshoe option in full, bringing the total issuance to RO 100 million. The Sukuk Certificates carry an initial profit rate of 6.50 per cent per annum until the first reset date, payable quarterly in arrears. An application for admission of the Sukuk Certificates to the Bond and Sukuk Market of the Muscat Stock Exchange (MSX) will be submitted following allocation, with listing expected on November 8, 2026.
The issuance attracted more than 90 investors, including pension funds, government-related institutions, banks, asset managers and high-net-worth individuals, demonstrating support for Ominvest from across the investor community.
The transaction forms part of Ominvest's approach to managing its funding and capital structure in support of the Group's long-term strategy. Placing a perpetual instrument of this size with the local market reinforces Ominvest's standing in the Omani capital markets and the confidence of its investors.
The Sukuk provide Ominvest with perpetual capital, with no fixed maturity date. Ominvest may redeem the Sukuk on the first call date or a subsequent anniversary, subject to the terms of the prospectus.
Separately, in relation to its existing 2021 Sukuk, Ominvest has issued an irrevocable notice to redeem all outstanding RO 52 million Unsecured Subordinated Perpetual Sukuk Al Mudaraba Trust Certificates issued through Sukuk Trust SPC on December 13, 2021. Redemption is scheduled for December 13, 2026, the first call date, at the outstanding face amount together with any outstanding payments. The certificates will be delisted from the MSX following redemption, with Muscat Clearing and Depository processing payments to holders.
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