CMA clears Sohar International’s RO100mn bonds issuance

Muscat - 

Sohar International Bank announced that the Capital Market Authority (CMA) has approved its issuance of perpetual bonds of up to RO100mn.

The perpetual bonds will be issued at an issue price of RO1,000 per bond by way of private placement, according to the bank’s filing to the Muscat Securities Market (MSM) on Monday.

Earlier in December, Sohar International shareholders had approved to issue additional tier 1 capital instruments in the form of perpetual bonds of up to RO100mn by way of private placement.

Sohar International said that the perpetual bonds issue is open from today and will close on March 11. Issue date will be March 14 and listing of the bonds will be on March 21.

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