Oman finance ministry to issue $2.5bn sukuk to plug budget gap

Oman’s ministry of finance said on Saturday it had commissioned five international banks to arrange the issue of two dollar-denominated sukuk totaling $2.5bn to help plug a budget deficit.

The bonds will consist of a $1bn five-year issue and a $1.5bn 10-year issue, finance ministry officials confirmed, without elaborating on pricing or the names of the banks involved.