Book-building process for the Omantel sukuk via private placement is currently being done. A large number of Omani and international investors have expressed strong interest in the debut sukuk issuance of Oman’s largest telecom operator Oman Telecommunications. The proposed OMR50 million issuance is the country’s first multi-denominated sukuk, offered in both Omani rials and US dollars. The bankers have been holding one-on-one meetings with key investors, and said that the issuance is gathering pace amongst both Omani and international investors. The sukuk will have a tenor of 5 years and mature in 2021. The minimum subscription amount for the sukuk is OMR100,000 or USD260,000. The profit rate on the sukuk will be set through a uniform price auction and will be finalised upon closing of the subscription period. Subscription closes on January 26. (Times of Oman)