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OETC issues successful 10-year International Bond
MUSCAT, February 11, 2021 Oman Electricity Transmission Company (OETC), a member of Nama Group, floated a $600 million bonds issue in the international bonds market maturing in 10 years, in February 2031 at an interest rate of 5.800%. This is the first Government Related Entity (GRE) issuance out of Oman since 2018 and it marks OETC’s return to the capital markets after a brief hiatus of about 4 years, said the company in a statement. The offering benefitted from improving investor sentiments towards Oman, further highlighting the strategic importance of NAMA Holding, its affiliate firms, partners in international money markets and investors, an Oman News Agency report said.
Oman Electricity Transmission Company offers international bonds
By: ONA
Muscat: Oman Electricity Transmission Company (OETC), a member of Nama Group, floated a $600m bonds issue in the international bonds market maturating in 10 years, in February 2031 at an interest rate of 5.800 per cent.
This is the first Government Related Entity (GRE) issuance out of Oman since 2018 and it marks OETC’s return to the capital markets after a brief hiatus of about 4 years, said the company in a statement issued.
The offering benefitted from improving investor sentiments towards Oman, further highlighting the strategic importance of NAMA Holding, its affiliate firms, partners in international money markets and investors.
By Mariam Meskin
27 Jan 2021
Oman Electricity Transmission Company, a partially state-owned utility company, entered the market on Wednesday for a dollar bond, just two weeks after the high yielding sovereign raised a dollar offering.
The issuer, rated Ba3/BB- by Moody’s and Fitch, raised $600m with a Reg S/144A senior unsecured bond with a maturity of 10 years. Bank ABC, First Abu Dhabi Bank, JP Morgan, National Bank of Oman and Standard Chartered led the deal, which was priced on Wednesday afternoon
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