|14 August, 2019

Clifford Chance has advised Oman on its return to the international debt capital markets

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 has advised the Government of the Sultanate of Oman on its return to the international debt capital markets in 2019 with a US$3 billion dual-tranche offering (US$2.25 billion 6.000 per cent. Notes due 2029 and US$750 million 4.875 per cent. Notes due 2025) under the Sultanate's Global Medium Term Note Programme. The transaction settled on 1 August 2019.

The proceeds from the debt-raising enable the Sultanate to meet a significant portion of its expected funding needs for the year. The bonds were offered and sold in reliance on Rule 144A and Regulation S and were admitted to trading on Euronext Dublin.

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 Clifford Chance team was led on English law matters through its UAE offices by partner Stuart Ure and senior associate Rafé Khokhar, and on US law matters through its Paris office by US partner Alex Bafi, supported by US counsel Olivier Plessis and US associates Ryan Bosch and Nick Brock. Al Busaidy Mansoor Jamal & Co (AMJ) advised the Sultanate on the Omani law aspects of the transaction.

The August 2019 issuance was coordinated by a lead manager group comprised of Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, J.P. Morgan Securities plc, MUFG Securities EMEA plc, Natixis, Société Générale and Standard Chartered Bank.

ENDS 

For more information about Clifford Chance see www.cliffordchance.com.  

For further information about this release contact Roshan Khan on +971 4 503 2661 or roshan.khan@cliffordchance.com 

  • Clifford Chance is one of the world's pre-eminent law firms with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, we pride ourselves on our approachable, collegiate and team based way of working. We always strive to exceed the expectations of our clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not for profit organisations. We provide them with the highest quality advice and legal insight, which combines the firm's global standards with in-depth local expertise.
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  • In January 2019, we won 10 awards at the IFN Middle East Deal of the Year Awards noting successes in key categories such as construction finance, infrastructure and projects finance, Islamic finance and securitisation.
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