Omantel scraps plans for debut sukuk

11 Feb 2016

Oman Telecommunications (Omantel), the Sultanate’s incumbent telecoms operator, has decided not to proceed with its proposed USD130 million debut sukuk issue ‘at the present time’, following recommendations from its advisors. Last month the company opened for subscription a five-year dual currency Islamic bond, but chief executive Talal al-Mamari told Reuters that the interest rates on the sukuk were higher than expected. ‘We have taken the advice of our financial advisor that now is not the right time to issue the sukuk, due to the current economic situation worldwide,’ he revealed.

Oman,Oman Telecommunications Company (Omantel),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share