Bank Sohar closes OMR100m bond issue

Muscat: Bank Sohar’s OMR100 million bond issue, which closed subscription recently, was oversubscribed. The bank had offered up to 100,000 perpetual bond, Additional Tier I Capital Instruments on a private placement basis, at a price of OMR1,000 per capital security, aggregating to OMR100 million, according to a disclosure statement posted on MSM website.
Bank Sohar said that the Capital Market Authority (CMA) has approved the results of the issue and agreed to allot the bonds to successful subscribers in line with the terms and conditions of the prospectus.
Based on this, the bonds shall be listed on the Muscat Securities Market (MSM) soon.