MUSCAT – This achievement reflects the rapid development in the financing capabilities of government-owned companies in the Sultanate of Oman.

OEDC represents a model of efficient financial management, with the ability to access local and international financing markets on competitive terms.

Its success in structuring diverse financing instruments underscores the status national companies now enjoy in attracting capital and investors, strengthening the local economy and keeping pace with the government’s drive to consolidate financial sustainability and diversify financing instruments to support vital sectors.

According to Engineer Mazen bin Rashid Al Lamki, CEO of OEDC, these financing transactions reflect the confidence of local and international financial institutions in the company’s creditworthiness and the sustainability of its long-term strategy.

He added in a statement to the Oman News Agency that the Company has completed a new five-year credit facility, having successfully raised its value from $750 million to $1 billion due to increased investor demand. The total coverage exceeded $1.5 billion, with more than half of the final allocation coming from outside the region, showing wide participation from Asian banks.

He pointed out that the loan proceeds, amounting to RO 288.8 million (USD 750 million), are planned to be used for the company’s investments, in addition to repaying RO 96 million (USD 250 million) of the current RO 769 million (USD 2 billion) loan due in 2029.

He further explained that the company refinanced its Omani riyal facilities. The fixed-term loan, valued at RO 375 million, was refinanced for the same amount, extending its maturity to 2028 with two annual extension options at the company’s discretion. The revolving credit facility was also increased from RO 150 million to RO 200 million, extending its maturity to 2028