Fitch Ratings has upgraded the credit rating of Energy Development Oman (EDO) to investment grade at 'BBB-', assigning a stable outlook. This action follows the agency's recent upgrade of Oman's sovereign credit rating to the same level.
Energy Development Oman (Energy Oman) has opened subscriptions for Category I of its second Omani rial (OMR) Sukuk issuance, offering institutional investors a fixed annual profit rate of 5 per cent over a five-year tenor.
Energy Development Oman (Energy Oman) has announced the launch of its second Omani rial sukuk offering, with an initial issue size of OMR50 million ($130 million) and an option to raise an additional OMR25 million through a greenshoe option.
Gulf International Bank (GIB) announced the closing of a $1 billion five-year term loan facility for Energy Development Oman (EDO), arranged together with Mashreq as Joint Initial Mandated Lead Arrangers, Underwriters and Bookrunners.
Energy Development Oman (EDO) has announced the s issuance of a USD 10-year Sukuk of RO 250 million ($650 million), maturing in January 2036. Priced at a profit rate of 5.14 per cent, the Sukuk achieved a credit spread of 100 basis points over the 10-year US Treasury benchmark, representing the tightest pricing ever secured by an Omani government-related entity (GRE).
