Oman’s BankMuscat to offer up to OMR 55 million 5½% five-year sukuk

By Marisa Wong

Morgantown, W.Va., April 23 – BankMuscat announced it received approval to issue OMR 25 million of series 2 sukuk.

The five-year sukuk will have an indicative profit rate of 5½%, according to a notice.

The offering will include a greenshoe to increase the total deal size to a maximum of OMR 55 million.

Subscription for the series 2 sukuk will begin on April 29 and close on May 15.

The public offering is open to all Omani and non-Omani individuals as well as institutional investors.

The bank is based in Muscat, Oman.

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