MUSCAT – Energy Development Oman has raised an additional $200 million through a tap issue of its existing 10-year sukuk, taking the total size of the issuance to $850 million, the company said.
The sukuk, which carries a coupon rate of 5.14%, is scheduled to mature in January 2036 and forms part of the company’s broader funding strategy aimed at supporting capital expenditure plans and diversifying funding sources.
The latest issuance was priced at a spread of 77 basis points over US Treasuries, tighter than the original January issuance, which was priced at 100 basis points, reflecting stronger investor appetite for the company’s debt.
EDO, which is rated BBB- with a stable outlook by both S&P and Fitch, said the transaction was completed amid continued global uncertainty in financial markets.
HSBC acted as the sole bookrunner for the deal.
Energy Development Oman has raised an additional $200 million via a tap of its existing 10-year sukuk, lifting the total issue size to $850 million. The sukuk, maturing in January 2036 with a 5.14% coupon, was priced at a tighter 77-basis-point spread over US Treasuries, underscoring stronger investor demand despite global financial market uncertainty.