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Tilal pays OR2.5m to sukuk holders

May 8, 2014 11:47 am

Oman’s Tilal Development Co (TDC) has announced that it has paid the initial semi-annual payment of 5% of its OR50m Islamic bond on April 30 to the respective sukuk holders, Times of Oman has reported. Tilal was the first in the sultanate to issue a corporate sukuk, which was offered in the market as a funding instrument for the expansion of the Tilal Complex that houses the popular Muscat Grand Mall.