Ahlibank plans up to RO75mn bond issuance

Muscat - 

Ahlibank is planning the issuance of additional tier 1 instruments in the form of perpetual bonds up to RO75mn, according to the bank’s disclosure to the Muscat Securities Market (MSM).

The bank has invited its shareholders to attend an extraordinary general meeting (EGM) on June 26 to approve the issuance of perpetual bonds with nominal value of RO1 per bond.

The bonds are proposed to be issued in single or multiple tranches, either by public or private placement, as determined by the board after obtaining all required approvals from the Central Bank of Oman and the Capital Market Authority, Ahlibank said in its filing to the MSM.
At the EGM, Ahlibank will also seek shareholders’ approval to authorise the board of directors to determine the form of bond issuance and take all necessary actions to execute the plan.

At its ordinary general meeting on the same day, Ahlibank will seek shareholders’ approval for an advisory services agreement with Ahli United Bank BSC and to authorise the board to execute the agreement and take all necessary actions.

The bank’s extraordinary general meeting and ordinary general meeting will be held at Grand Hyatt Muscat.

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