Bank Muscat provides corporate finance and advisory services for marquee deals entailing aggregate fundraising of over OMR800mn in 2022

Business Tuesday 07/March/2023 15:59 PM
By: Times News Service
Bank Muscat provides corporate finance and advisory services for marquee deals entailing aggregate fundraising of over OMR800mn in 2022

Muscat: Bank Muscat, the leading financial services provider in the Sultanate of Oman, continues its successful track record of providing innovative and customised financing solutions to suit the unique requirements of its customers.

The bank had another successful year in 2022, providing corporate finance and advisory services for several prestigious clients including government-related entities as well as large corporate entities. Bank Muscat successfully advised on multiple transactions spanning various sectors including telecom, financial services, gas networks, utilities and supplier financing, which resulted in fundraising of over OMR800 million ($2 billion) in 2022.

Khalifa Abdullah Al Hatmi, Deputy General Manager - Investment Banking and Capital Markets, Bank Muscat, said, “The bank is synonymous with innovation, customer-centricity, agility and trustworthiness and always aims to deliver reliable, dynamic and customised solutions, which suit the unique requirements of our customers. We are pleased to continue delivering on these principles consistently. Bank Muscat prides itself in its intricate understanding of diverse business requirements of its clients, offering unmatched financial expertise and guidance, innovative funding solutions and a wide array of services for various customer needs.”

In 2022, Bank Muscat’s investment banking team engaged with the Ministry of Finance to achieve a unique financing solution to offer an alternative solution to meet working capital requirements for various suppliers and service providers to various ministries of the Government of Oman. It also advised and raised funds for Helios Towers’ acquisition of Omantel’s telecom towers and related assets, which is the first of its kind acquisition in Oman by a UK-listed entity. The bank also helped a leading finance and leasing company in the Sultanate to raise financing for its business. Moreover, the investment banking team also provided financial advisory services to leading GREs in Oman operating in various sectors.

Bank Muscat led the successful Initial Public Offering of Barka Desalination Company. On the Mergers & Acquisitions side, the team acted as the sole advisor on the merger of Oman Qatar Insurance Company with Vision Insurance Company, both listed on the Muscat Stock Exchange.

The bank also advised and managed the largest ever bond offering on MSX i.e., OMR375 million AT1 perpetual issuance by Bank Muscat which was issued to the bank’s shareholders as a bonus. The successful financial advisory mandates achieved financial close for these transactions which highlights the capabilities of the team members, comprising some of the most experienced investment bankers in Oman having a wide experience across sectors and geographies.

Bank Muscat’s Investment Banking team is the market leader in corporate finance and advisory solutions encompassing corporate finance, project finance, debt capital markets, debt refinancing and restructurings, IPOs, structured financings, quasi-equity financings, private placements, as well as mergers and acquisitions in the Sultanate.