Dubai: Clifford Chance said it advised the Oman government on its return to the international debt capital markets in 2019 with a $3 billion (Dh11 billion) dual-tranche offering under Global Medium Term Note Programme.
The transaction was settled on August 1.
The proceeds from the debt-raising enable Oman to meet a significant portion of its expected funding needs for the year. Since the Sultanate’s return to the international capital markets in 2016, Clifford Chance has advised the Sultanate on all of its bond and sukuk offerings.
Clifford Chance partner, Stuart Ure, who led the team commented: “This was another landmark offering for the Sultanate, availing of optimal market conditions, and we were delighted to partner with the Ministry of Finance once again to deliver a successful transaction for all parties.”
The August 2019 issuance was coordinated by a lead manager group comprised of Citigroup Global Markets Limited, First Abu Dhabi Bank, J.P. Morgan Securities plc, MUFG Securities EMEA, Natixis, Societe Generale and Standard Chartered Bank.