Oman electricity firm to meet investors for potential debut dollar bond issue

DUBAI: State-owned Oman Electricity Transmission Co (OETC) plans to meet fixed income investors starting on Wednesday for a potential debut US dollar bond issue, a document from lead arrangers showed.

The firm, which develops, operates and maintains power transmission grids in Oman, chose Bank Muscat and J.P. Morgan to arrange investor meetings for the bonds in the United States and Europe. No further details were provided.

Moody’s Investors Service said it had a provisional A3 rating on proposed dollar-denominated senior unsecured notes which would be issued by Lamaar Funding Ltd and unconditionally guaranteed by OETC.