National Finance to launch RO25mn bonds issuance

National Finance to launch RO25mn bonds issuance

Muscat – National Finance Company, the largest finance and leasing firm in Oman, announced on Wednesday that the subscription for its second tier 1 perpetual bond issuance will open on March 17, 2024. The bonds issue size is up to RO25mn (with a greenshoe option to increase the size up to RO35mn) at an attractive […]Muscat – National Finance Company, the largest finance and leasing firm in Oman, announced on Wednesday that the subscription for its second tier 1 perpetual bond issuance will open on March 17, 2024.

The bonds issue size is up to RO25mn (with a greenshoe option to increase the size up to RO35mn) at an attractive coupon of 7.75%, the company said in a press statement.

The subscription will be open for a period of two weeks, closing on March 28, 2024, with a tentative issue date of April 3, 2024. The perpetual bonds will be denominated in Omani rial and listed on the Muscat Stock Exchange in compliance with applicable laws and regulations in Oman.

National Finance’s perpetual bonds will be offered by private placement to sophisticated investors with a minimum investment amount of RO100,000 through a book-building method.

Bank Muscat is the anchor investor for the bonds offering