"Oman's first corporate sukuk has received regulatory approval and the five-year, 50 million rial ($130m) private placement aims to close next month, its lead arranger said yesterday.
The sukuk will be issued by Tilal Development Company and the proceeds will be used to repay existing debt and expand the Muscat Grand Mall. If successful, the issue could pave the way for other companies in the sultanate to sell Islamic bonds.
"We have already done our roadshows and also got some commitments from pension funds locally," said Al Madina Investment's Islamic finance head Mohsin Shaikh Sehu Mohamed."
'via Blog this'
No comments:
Post a Comment