Ahlibank successfully completes RO 40 million AT1 bonds issue
ahlibank has announced the successful completion of its Additional Tier 1 Capital Instruments (AT1 Bonds) issue aggregating RO 40 million, through private placement. This includes a base issue of RO 20 million and a Green Shoe Option of RO 20 million. The AT1 Bonds issuance is set to strengthen the overall capital adequacy of the Bank.
The subscription period for the issuance opened on June 13, 2024, and closed on June 25, 2024.
The issue received strong response from investors and was oversubscribed by more than two times, leading to the Bank exercising the green shoe option in full.
Earlier in June 2024 the Bank had exercised its first call option on AT1 Bonds of RO 20 million, issued by the Bank in June 2019.
A diverse demographic of investors, including foreign investors, corporate entities, government bodies, sovereign institutions, and high-networth individuals, participated in the subscription, underscoring the widespread popularity of ahlibank’s financial instruments.
Besides attracting a significant number of new marquee investors, another notable aspect of the subscription was the continued support from a large proportion of investors who had previously subscribed to the 2019 AT1 Bonds.
Commenting on the success of the issue, Said al Hatmi, Chief Executive Officer, ahlibank, said, “With the successful completion of our AT1 Bonds issuance, ahlibank has achieved yet another milestone.
This strong demand for our AT1 Bonds is a testament to the resilience of our business model and the effectiveness of our strategic initiatives. We are indeed grateful for the continued support from our existing investors and delighted to welcome new participants to our growing community of stakeholders.
We would also like to thank the Central Bank of Oman, Financial Services Authority, Muscat Stock Exchange, and Muscat Clearing and Depositary who have played a quintessential role in facilitating the entire process.”