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ENERGY Development Oman (EDO) has successfully closed a $1 billion five-year term loan facility, upsized from an initial launch size of $750 million, Gulf International Bank (GIB) announced.
GIB and Mashreq acted as joint initial mandated lead arrangers, underwriters, and bookrunners for the transaction.
The facility attracted strong international demand, securing participation from 15 banks, including both core relationship lenders and new international institutions.
GIB noted that more than half of the final allocations were made to banks outside the Gulf Cooperation Council (GCC), with major Chinese and Indian financial institutions among the key participants, reflecting robust interest from Asia.
The proceeds from the financing will be utilised for a combination of capital expenditure and the refinancing of existing debt, marking a further step in EDO’s strategy to diversify its funding sources and strengthen access to global capital markets.
“This transaction demonstrates the continued confidence of the international banking community in EDO’s credit profile and strategic direction,” said Energy Development Oman chief executive Mazin Al Lamki.
GIB CEO Sara Abdulhadi added that the strong demand highlighted both the quality of the borrower and GIB’s structuring expertise in serving leading regional corporates and sovereign-linked entities.
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