Value of subscription requests for Ijarah Sukuk oversubscibed by over three times

Muscat: On behalf of the Government of the Sultanate of Oman, represented by the Ministry of Finance, Oman Sovereign Sukuk Company on Monday announced the results of the auction of the 8th issue of Ijarah Sukuk worth OMR286 million.

The company said in a statement that the total value of subscription requests for the 8th issue exceeded three  times the total announced value, amounting to approximately OMR326.87 million.

The average acceptable return was 4.75 percent, compared to a maximum acceptable return of 4.85 percent and a minimum acceptable return of 4.6 percent. The statement affirmed that the bonds will be issued today, 30 December 2024.

The profit due on the Ijarah Sukuk will be paid twice a year: On 30 June and 30 December, for a period of seven years until the sukuk’s maturity date on 30 December 2031.