Oman has completed its 2017 financing with a $2bn sukuk – as long as it can keep spending under control.

Oman’s $2bn debut international sukuk launched on 23 May, was more than three times oversubscribed with orderbooks of $6.9bn and better than expected pricing, according to fresh details on the issue released in early June by the Ministry of Finance.

The seven-year sukuk was tightly priced at 235bps over mid-swaps, 15bps inside its conventional bond curve, compared to an...