The Oman Electricity Transmission Company has succeeded in attracting investor interest by offering bonds worth $600 million, due in February 2031, at an interest rate of 5.8 percent. The companys statement stated that this is the first offering made by a government-related entity outside the Sultanate of Oman since 2018 and the return of the Oman Electricity Transmission Company to the financial markets after a four-year hiatus as the offering benefited from the improvement in investors willingness to invest in the Sultanate, which enhances the strategic importance of the Group Namaa Holding, its subsidiaries in the Sultanate and the international financial markets, and for investors alike.
The Oman Electricity Transmission Company succeeded in attracting investor interest in its offering, and investor confidence was boosted. This was largely due to the strategic diversification operations it carried out. Investors from Asia, Europe and America have shown a clear desire to participate in the offer of the Oman Electricity Transmission Company with more than 83 percent of the record of purchase orders that have been received. The proceeds from the international offering of $600m will be used to finance some of the existing loans, including: In that, the shareholder loan provided to the Oman Electricity Transmission Company and the financing of the capital spending program in the Oman Electricity Transmission Company, thus allowing the company to implement infrastructure development plans in the Sultanate.
It is noteworthy that the Oman Electricity Transmission Company has entrusted the activities and operations of electricity transmission in the north of the Sultanate and Dhofar with an electric capacity of 400 kilovolts, 220 kilovolts and 132 kilovolts. Among the basic spending programs undertaken by the Oman Electricity Transmission Company is the implementation of the first phase of the electrical grid interconnection project (North and South) with a capacity of 400 kilovolts
