Oman Telecommunications Co (Omantel) has opened for subscription its debut RO50 million ($129.9 million) sukuk issue, the former monopoly said on Wednesday.

The Islamic bond will have a lifespan of five years, with investors allowed to subscribe in both US dollars and rials, Omantel said in an emailed statement.

Subscription will run Jan. 11 to Jan. 26 inclusive, it said.

The telecom operator said on Monday it had mandated HSBC, National Bank of Oman and Standard Chartered as arrangers for the transaction.- Reuters