Omantel approves bond issuance by its subsidiary Oztel
Oman Telecommunications Company (Omantel) [OTEL.OM] announced that its EGM has granted guarantee for its subsidiary, Oztel Holding, to issue bonds, according to a company disclosure. The company has mandated Citi and Credit Suisse as Global Coordinators alongside Bank ABC, Bank Muscat [BKMB.OM], HSBC and Standard Chartered Bank as joint lead managers to organise a series of fixed income investor meetings in Dubai, London, New York and Boston, which will begin on 8 April.
Omantel: OMR0.88 as of 4 Apr. 2018, Rating: Neutral, TP: OMR1.39/share, MCap: USD1,737mn, OTEL OM/OTEL.OM
Bank Muscat: OMR0.38 as of 4 Apr. 2018, Rating: Buy, TP: OMR0.44/share, MCap: USD2,738mn, BKMB OM/BKMB.OM
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