Oman markets 7-year US dollar sukuk

London: The Sultanate of Oman has started marketing a seven-year US dollar benchmark-sized sukuk offering at a 270 basis point (bps) area over mid-swaps, according to a lead.

Books are open for pricing as early as today via Alizz Islamic Bank, Citigroup, Dubai Islamic Bank (DIB), Gulf International Bank, HSBC, JP Morgan and Standard Chartered (B&D).

The sovereign had signalled the possibility of an additional 12-year sukuk in its mandate but no further details have been provided on that tranche.

Expected issue ratings are Baa1 by Moody’s and BBB by Fitch.