Oman Telecommunications (Omantel), the Sultanate’s incumbent telecoms operator, has opened for subscription its debut OMR50 million (USD129.4 million) sukuk issue, writes the Times of Oman. The Islamic bond, which will have a lifespan of five years, is offered on private placement to Omani and international investors, who will be able to subscribe in both US dollars (USD) and Omani rials (OMR). The minimum subscription amount is OMR100,000/USD260,000 and the profit rate will be set through a uniform price auction to be finalised upon closing of the subscription period, which is planned for 26 January. Omantel has mandated Standard Chartered Bank as sole structuring advisor, while HSBC, National Bank of Oman and Standard Chartered Bank have been hired as joint placement agents for the issue.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to email@example.com.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors