The bonds issuance, which was completed on a private placement basis, received positive response from investors and was oversubscribed with the bank receiving applications for an aggregate amount of RO42.45mn towards the issue size of up to RO40mn. The issuance was approved by the relevant regulatory authorities and the bonds were listed on the Muscat Securities Market (MSM), BankDhofar said in a press statement.
The bond issuance attracted a diversified set of investors which includes large institutions, pension funds, insurance companies, investment companies and individuals, reflecting strong confidence in the bank amongst the investor base.
Abdul Hakeem Omar al Ojaili, CEO, BankDhofar, said, “We are delighted to announce the successful closing of the additional tier 1 bond issuance by BankDhofar in the Muscat Securities Market. This bond issuance combined with the recent successful completion of rights issue of ordinary shares, further strengthens the bank’s capital adequacy.”
The additional tier 1 perpetual bond issue of the bank was successfully managed by Gulf Baader Capital Markets, who acted as the financial advisor, lead issue manager and placement agent.