Oman Electricity Transmission Company has recently won the Middle East 2015 Bonds, Loans and Sukuk Awards. This award is one of the most prestigious awards in this field, which aims to raise the bar of competition in Middle Eastern organizations to reach to global levels, and is the only award for Islamic Capital Markets.
OETC bonds were issued for an amount of USD 1 billion for a period of 10 years, maturing in 2025 at coupon of 3.958%. The bonds were rated at A3 by Moody’s and BBB+ from S&P. This is the largest international bond issuance from an Omani company and the biggest international issuance in the capital markets to be issued outside the Sultanate.
“It is a great honor for all of us at Nama Group for one of our subsidiaries, Oman Electricity Transmission Company, to win the Middle East Award for Bonds, Loan and Sukuk for the year 2015 and winning in two categories. The categories under which, OETC has won are “Winner: Sovereign / quasi-sovereign financing deal of the Year”, as well as “Runner-up: Investment Grade Bond / Sukuk Deal of the year”. We highly appreciate the efforts that OETC’s employees have put into their work to get the company to achieve such great levels of excellence” stated Eng. Ali bin Said Al Hadabi, OETC’s CEO.
OETC was awarded on the 18^th of November 2015 and was received by Nama Group’s CEO, Eng. Omar bin Khalfan Al Wahaibi on behalf of OETC.