Oman Electricity Transmission Company (OETC), the sole transmission grid operator in the Sultanate, has launched a international tender process to appoint advisors and arrangers for a potential debt capital market (DCM) issuance.

The company has invited bids for funding advisors and arrangers, as well as legal advisors to assist with the transaction in two separate tenders. Interested parties can obtain tender documents until August 12, 2024, with submissions due by August 21, 2024, through OETC's e-tendering platform.

While the tender documents do not specify the size or terms of the potential issuance, both Moody's and Fitch Ratings have suggested that OETC is expected to refinance its $1 billion unsecured bond maturing in May 2025. 

OETC is investing heavily in its transmission network, with a planned expenditure of approximately 343 million Omani riyals ($891 million) over the next five years (2024-2028). The company is 51 percent owned by the Omani government through Nama Holding and 49 percent by State Grid International Development Co., Ltd.

Read more: Grid projects: Oman’s OETC lists 13 projects in the design phase

Oman unveils plans for boosting power grid with 17 new transmission projects

OETC plans 41 transmission projects across Oman over next 5 years

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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