Oman Arab Bank’s RO 50 million maiden bond issue was oversubscribed by more than 100 per cent, the bank stated here yesterday. The issue raised around RO 104.5 million from a number of leading top pension funds and institutions of the Sultanate.
Abdul Kadar Askalan, CEO, said the overwhelming response attested to the bank’s reputation and the confidence of the financial institutions in its management.
He thanked the Central Bank of Oman and the Capital Market Authority for their support and guidance.
Describing the oversubscription as a milestone for the bank, Askalan noted that bond issues added to the vibrancy of the market and allowed banks to tap diverse sources for capital.
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