Linklaters advises on Oman’s US$1.5bn sovereign sukuk issuance

The Sultanate of Oman has sold US$1.5billion seven-year Sukuk certificates, its second foray into the international debt capital markets in 2018 following its issuance of US$6.5bn sovereign bonds in January.

Linklaters advised the banks on the deal, including Citigroup, HSBS, JP Morgan, Gulf International Bank and Standard Chartered.

The Linklaters team was led by Capital Markets partners Jonathan Fried and Cecil Quillen and associate Nicola Minervini.

Linklaters advised, as issuer counsel, on Oman’s first ever sukuk issuance in 2015 and, as dealer/manager counsel, on the establishment of Oman’s sukuk issuance programme and the subsequent US$2bn drawdown thereunder in 2017. Earlier in the year, Linklaters advised on the establishment of a Global Medium Term Note Programme for Oman, and on the issuance of three series of bonds under it with an aggregate issuance size of US$6.5bn.

In total, during the period 2016-2018, Linklaters has advised on multiple standalone bond and sukuk issues in an aggregate amount of US$12.5bn.