The debut issuance under the Meethaq Sukuk Programme, Series 1, closes on 1 June 2017.
Series 1 will be for OMR25 million with a green shoe option of a further OMR25 million, in case of oversubscription. It will have a tenor of five years - due 2022 - and will be issued through a public offer which will be open to Omani and non-Omani individuals as well as institutional investors.
Under the programme, Meethaq plans to issue sukuk certificates in several tranches up to a maximum amount of OMR100 million over a period of time which will be listed on the Bond and Sukuk market of Muscat Securities Market (MSM).
Advantages for the Meethaq Sukuk Programme include:
Series 1 will be for OMR25 million with a green shoe option of a further OMR25 million, in case of oversubscription. It will have a tenor of five years - due 2022 - and will be issued through a public offer which will be open to Omani and non-Omani individuals as well as institutional investors.
Under the programme, Meethaq plans to issue sukuk certificates in several tranches up to a maximum amount of OMR100 million over a period of time which will be listed on the Bond and Sukuk market of Muscat Securities Market (MSM).
Advantages for the Meethaq Sukuk Programme include:
- Strong investment grade entity rating of Baa1 by Moody’s, BBB- by S&P and BBB by Fitch
- Market leader with 36% share in Islamic financing and 34% of total assets in Oman
- Strong Shari'ah Supervisory Board and Compliance Framework under the guidance of renowned shari'ah scholars.
- Shari'ah-compliant fixed income investment opportunity with stable returns and the backing of Meethaq Islamic Banking.
- Attractive return of 5% per annum payable semi-annually over a five-year period
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| Source: Meethaq website. Poster for Meethaq's sukuk programme. |
Interested?
Read the FAQ or apply
The minimum application size is OMR1,002 per applicant for subscription of a minimum 1,000 certificates of OMR1.002 each (inclusive of offer expenses of 2 baisa per certificate) and thereafter in multiples of 100 certificates. Applications for the subscription of fewer than 1,000 certificates will not be accepted.
Read the FAQ or apply
The minimum application size is OMR1,002 per applicant for subscription of a minimum 1,000 certificates of OMR1.002 each (inclusive of offer expenses of 2 baisa per certificate) and thereafter in multiples of 100 certificates. Applications for the subscription of fewer than 1,000 certificates will not be accepted.