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An investor talks on his mobile phone, whilst working on his computer, on the trading floor of the Muscat Securities Market (MSM) in the Commercial Business District of Ruwi in Muscat, October 2, 2007. Stringer, Reuters Image used for illustration purpose.
State-owned Oman Telecommunications Company (Omantel) has hired banks for the sale of 7-year dollar-denominated debut Islamic bond, fixed income news service IFR reported on Monday. Citigroup and J.P. Morgan have been selected as joint global coordinators and joint bookrunners, while Bank ABC, Bank Muscat, Dubai Islamic Bank, First Abu Dhabi Bank, and Standard Chartered Bank will also act as joint bookrunners.
The banks will arrange a series of fixed-income investor meetings starting Monday, followed by an issuance of benchmark-sized sukuk should market conditions permit, IFR said.
(Reporting by Md Manzer Hussain; Editing by Susan Fenton)
