Fitch Ratings has upgraded the credit rating of Energy Development Oman (EDO) to investment grade at 'BBB-', assigning a stable outlook. This action follows the agency's recent upgrade of Oman's sovereign credit rating to the same level.
Gulf International Bank (GIB) announced the closing of a $1 billion five-year term loan facility for Energy Development Oman (EDO), arranged together with Mashreq as Joint Initial Mandated Lead Arrangers, Underwriters and Bookrunners.
Energy Development Oman (EDO) has announced the s issuance of a USD 10-year Sukuk of RO 250 million ($650 million), maturing in January 2036. Priced at a profit rate of 5.14 per cent, the Sukuk achieved a credit spread of 100 basis points over the 10-year US Treasury benchmark, representing the tightest pricing ever secured by an Omani government-related entity (GRE).
