The Gulf International Bank (GIB) has successfully closed 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.
The transaction attracted strong participation from an international group of 15 banks, reflecting broad market confidence in EDO’s financial position and growth strategy.
Initially launched at $750 million, the facility was upsized to $1 billion following significant oversubscription and robust demand from both EDO’s core relationship banks and new international lenders.
More than half of the final allocations were made to institutions outside the GCC, particularly from Asia, with major Chinese and Indian banks among the key participants, underscoring EDO’s expanding global investor base and cross-border financial partnerships.
The financing marks another milestone for EDO in diversifying its funding sources, strengthening access to global capital markets, and reinforcing investor confidence in Oman’s energy sector.
The proceeds from the facility will be used for a combination of capex financing, refinancing of existing debt, and supporting EDO’s strategic growth initiatives to enhance operational efficiency and long-term sustainability.
Mazin Rashid Al Lamki CEO – Energy Development Oman
“This transaction demonstrates the continued confidence of the international banking community in EDO’s credit profile and strategic direction. We are grateful for the support from our banking partners and for the leadership of GIB and Mashreq in arranging a highly successful syndication.”
Adding, Sara Abdulhadi, CEO of GIB, said that, “We are delighted to have supported EDO on this landmark financing. The strong demand and participation from institutions across Asia and beyond highlight both the quality of the borrower and the strength of GIB’s syndication and structuring expertise. We remain committed to serving leading regional corporates and sovereign-linked entities with innovative financing solutions.”
