EDO completes its debut benchmark sukuk

EDO completes its debut benchmark sukuk

Investor participation was widespread and global, with over 175 orders received from regions including Europe, the UK, the US, the Middle East, and Asia. The sukuk was successfully priced at a profit rate of 5. 875 per cent, with a 10-year maturity period. Commenting on the new issuance, Mazin Al Lamki, the CEO of EDO, stated, "We take great pride in this significant transaction, which underscores international investors' endorsement of our ongoing commitment to strengthen Oman's energy strategy. We deeply appreciate our investors' trust in us, highlighting our robust creditworthiness and our transformation into a fully integrated energy enterprise. Furthermore, this fresh offering aligns with EDO's funding strategy to extend the debt maturity timeline in accordance with our capital structure and corporate objectives." Standard & Poor's and Fitch have assigned a BB rating to the senior unsecured Sukuk Al Ijara/Murabaha, which has been priced with a spread of 165 basis points over US Treasuries. These trust certificates will be issued within the framework of EDO Sukuk Limited's trust certificate issuance programme. Bank Muscat SAOG, National Bank of Oman SAOG, Abu Dhabi Commercial Bank PJSC, Arab Banking Corporation BSC, Dubai Islamic Bank PJSC, First Abu Dhabi Bank PJSC, J. P. Morgan