Chicago, Sept. 22 – Energy Development Oman SAOC listed a $1 billion inaugural sukuk offering (BB/BB) in London, according to multiple sources.
The 5 7/8% trust certificates will mature in 2033.
In the base offering circular, J.P. Morgan and Standard Chartered Bank were listed as arrangers.
Dubai Islamic Bank joined as a dealer for the Rule 144A and Regulation S deal.
Edo Sukuk Ltd. is technically the trustee/issuer.
The offer had more than 175 accounts in the order book. The deal was 5x oversubscribed, according to the company.
Proceeds will be used for general corporate purposes.
Energy Development Oman is Oman’s national energy company.
| Issuer: | Edo Sukuk Ltd.
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| Guarantor: | Energy Development Oman SAOC
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| Amount: | $1 billion
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| Issue: | Sukuk
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| Maturity: | Sept. 21, 2033
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| Bookrunners: | J.P. Morgan and Standard Chartered Bank
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| Counsel to issuer: | Maples and Calder (Dubai) LLP, Linklaters LLP, Dentons & Co, Oman Branch
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| Counsel to underwriters: | Dechert LLP, MAQ Legal
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| Coupon: | 5 7/8%
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| Price: | Sept. 18
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| Listing date: | Sept. 21
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| Ratings: | S&P: BB
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| Fitch: BB
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| Distribution: | Rule 144A and Regulation S
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| ISIN: | US28135J2A42
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