Bank Muscat successfully manages OMR100mn sovereign sukuk issuance
Muscat: Bank Muscat, the leading financial services provider in the Sultanate of Oman, announced that it successfully managed series 9 of the Sovereign Sukuk Issuance launched by the Oman Sovereign Sukuk Company, with a total value of OMR100 million.
The sukuk carries a 7-year maturity and offers an annual profit rate of 4.65%. Bank Muscat was appointed as the official issue manager and collecting bank for the subscription, in collaboration with other local financial institutions.
This mandate reinforces the bank's leadership in executing major investment transactions within the Sultanate and across GCC capital markets.
The Oman Sovereign Sukuk Company had opened the subscription window from 27th May to 1st June 2025, with the sukuk settlement scheduled for Wednesday, 4th June 2025. The sukuk was priced within a competitive yield range, with an average yield of 4.625%, a minimum yield of 4.57%, and a maximum yield of 4.64%, reflecting strong investor confidence and market stability. The sukuk payouts will be made semi-annually on 4th June and 4th December each year until maturity on 4th June 2032.
The issuance witnessed participation from all categories of investors, retail as well as institutional. The sukuk is structured in accordance with Sharia-compliant principles and is fully tradable on the Muscat Stock Exchange (MSX) at prevailing market prices.
All allocation details and investor records will be maintained and administered by Muscat Clearing and Depository Company, as the central registrar and depository for the sukuk.
Commenting on the occasion, Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets at Bank Muscat, expressed pride in collaborating with the team at Oman Sovereign Sukuk Company and the Ministry of Finance, Sultanate of Oman for this successful issuance.
He noted: 'The Bank's appointment as the official issue manager for the sukuk issuance is a testament to the company's trust in Bank Muscat's capabilities and leadership in managing major investment transactions for a range of corporate and institutional clients. The Bank, represented through its Investment Banking and Capital Markets division, has extensive experience in structuring and executing large-scale capital market deals, both on debt as well as equity side, and its specialized team is well-equipped to navigate evolving market dynamics and complexities. Bank Muscat is committed to supporting the growth of local financial markets by offering a comprehensive suite of banking and financial solutions tailored to institutional and retail customers alike.'
The selection of Bank Muscat as the issue manager underscores its strong local, regional, and international reputation among individuals, corporates, and financial institutions.
Demonstrating its role as a key player in advancing the Sultanate's financial landscape, the Bank continues to build on its market-leading position by delivering innovative financing and advisory solutions. These include corporate and project finance, debt restructuring, public offerings, equity-linked instruments, private placements, and mergers and acquisitions.
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