BankDhofar’s RO40mn bonds issue successfully oversubscribed

December 31, 2018

BankDhofar announced that its recently closed RO40mn perpetual bonds issuance has been successfully oversubscribed. Earlier in December 

BankDhofar announced the issuance of upto RO40mn additional tier-1 perpetual bonds by way of a private placement.

‘The bank is pleased to disclose that the issuance was successfully oversubscribed, as the bank received applications for an aggregate amount of RO42.45mn towards the issue size of up to RO40mn’, BankDhofar said in a disclosure filed to the Muscat Securities Market (MSM) on Sunday.

BankDhofar said it has received the approval from the Capital Market Authority (CMA) to allot additional tier-1 perpetual bonds aggregating to RO40mn.

‘Refunds are currently being processed in accordance with the terms and conditions of the prospectus and are expected to be completed by December 30’, the bank added.

The perpetual bonds shall be listed on the MSM.

The CMA recently also approved the allotment for BankDhofar’s RO55mn rights issue. The rights issue was oversubscribed as the bank received applications for a total of RO61.18mn against the issue size of RO55mn.