Nama Electricity Distribution Company SAOC (NEDC) has successfully issued a $500 million 5-year 144A/RegS Sukuk at a profit rate of 5.5%.

“The transaction garnered a 4x oversubscribed book and has high levels of participation from high quality international asset managers.

This transaction is an important issuance for NEDC post the sector reorganisation, and helps to deepen investment into Oman, said NEDC in a statement.

NEDC, part of Nama Group, is Oman’s sole electricity distribution company outside Dhofar Governorate and is 100% indirectly owned by the Government of Oman. The company is rated Ba1 (stable) by Moody’s and BB+ (stable) by Fitch).