Mazoon makes mark inside sov curve as EMBI eligibility eyed

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By Francesca Young
02 Nov 2017

Oman electrical distribution company Mazoon managed to print a $500m 10 year sukuk inside its sovereign’s curve on Wednesday as investors pounced on rare corporate JP Morgan Emerging Market Bond Index (EMBI) eligible paper from the Middle East.

The $500m 10 year sukuk was priced at the tight end of price guidance on Wednesday, with books hitting over $5bn for the note. Initial price thoughts for the sukuk started at mid to high 5% before being tightened to 5.5% area and then 5.2%-5.25%. It was then ...

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