MUSCAT – Taageer Finance Company SAOG has successfully completed its inaugural OMR 25 mn perpetual bond issuance, marking a significant milestone in Company’s growth and further reinforcing its position as a pivotal player in the finance and leasing sector in Oman. The offering received strong interest from a well-diversified investor base, reflecting the company’s robust market position and long-term growth potential. Based on the investor interest received for the offering, the Company elected to fully exercise the OMR 10 mn green shoe option resulting in a total issue size of OMR 25mn, which stands as the largest bond issuance successfully closed by the Company till date.
The proceeds from this issuance will bolster the company’s capital structure and will be used to support company’s growth initiatives, thereby enhancing its competitive position in the market. The perpetual bonds carry a coupon of 7.50 percent and will be listed on the Muscat Stock Exchange.
“We are pleased to announce the successful completion of our perpetual bond issuance, which marks a pivotal moment for our company,” said Shahin Mohammed Al Balushi, Chief Executive Officer, Taageer Finance. “This achievement underscores our robust market position and strong investor confidence in our long-term strategic vision. The perpetual bond issuance allows us to further strengthen our capital structure, providing flexibility to pursue growth opportunities and enhance shareholder value. We deeply appreciate the support of our investors and stakeholders, whose trust and engagement have been instrumental in bringing this transaction to fruition. This offering reaffirms our commitment to sustainable financial management and positions us well for continued success in an evolving market landscape.”
On the successful completion of this transaction, Khalifa bin Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets, Bank Muscat, said: “We are proud to have successfully led and executed Taageer Finance’s inaugural perpetual bond issuance, as their financial advisor and issue manager. This landmark event not only reflects the confidence investors have in Taageer Finance’s strategic direction but also highlights our commitment to delivering on complex financing solutions, even in a dynamic economic environment. We are grateful for the support from all parties involved, and we believe this transaction will significantly contribute to strengthening the company’s capital base and thereby support its growth aspirations. We look forward to continuing our partnership”
Bank Muscat Investment Banking, Oman’s premier investment banking team, acted as the sole issue manager for the transaction.
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