Energy Development Oman begins marketing 7-year sukuk, according to a document.

State-owned Energy Development Oman has begun accepting bids for its 7-year sukuk issuance, according to a document from an arranging bank seen by Reuters on Wednesday.

The indicative pricing for the Islamic debt offering has been set at approximately 170 basis points above U.S. Treasuries, the document revealed.

The energy company intends to issue dollar-denominated 7-year sukuk of benchmark size under its trust certificate issuance program, with pricing anticipated later in the day, the document further stated.