Ahlibank successfully lead manages Mohammed Al Barwani Holding Sukuk Issuance

Ahlibank successfully lead manages Mohammed Al Barwani Holding Sukuk Issuance

Muscat: ahlibank, in line with its commitment to achieving greater heights through innovative collaborations, has successfully acted as the issue manager, collection bank and dealer to Mohammed Al Barwani New Sukuk Issuance SPC (Issuer), lead managing the sukuk issuance of RO 30.1 million. The Issuer is a sole proprietor company incorporated in Oman by Mohammed Al Barwani LLC Group (MB Group) for issuing the Sukuk certificates. The issuance was conducted through private placement to sophisticated investors in Oman and the GCC region. This marks MB Group's second successful sukuk issuance, following the first sukuk issuance in 2016 which was redeemed at the end of June 2023. The sukuk are listed on the Muscat Stock Exchange. Despite the prevailing high interest rate regime, the issuance was priced at the same profit rate as the earlier sukuk issuance. This achievement was made possible through innovative structuring, ensuring partial security and a sculpted repayment schedule. MB Group is one of Oman’s prominent business groups, and is the holding company with diversified interests in oil & gas exploration, drilling, industrial equipment and mining businesses. Initially set at RO 25 million, the base offer size was expanded to RO 30.1 million in response to high