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Bank Muscat successfully closes $500 million Euro bond issue

MUSCAT, 19 March 2013 - Bank Muscat, the flagship financial services provider in the Sultanate, on Tuesday (19 March 2013) successfully closed a 5-year, USD 500 million bond issuance under its Euro Medium Term Note (EMTN) programme. The deal, which evoked strong response from regional and international investors, was oversubscribed 6.6 times. The bonds will be listed on the Luxembourg Stock Exchange.

 

Shaikh Khalid bin Mustahail Al Mashani, Chairman, said: “We are extremely glad that the $500 million bond issuance under the EMTN programme has evoked strong response, which reflects the trust and confidence of regional and international investors in the Sultanate’s flagship bank. The bond issue highlights the economic potential of Oman; the world-class financial regulatory infrastructure in the Sultanate and the strength of Bank Muscat and its future plans.”

 

In February 2011, Bank Muscat announced the $800 million EMTN programme to launch a series of bond issues over a 10-year period with varying maturities, currencies and terms through public subscription or private placement.