Oman Hires Standard Chartered to Raise as Much as $1.2 Billion
- Funds will be used to finance infrastructure in Duqm Free Zone
- Financing will help Oman reduce costs, extend maturity profile
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Oman is seeking to raise as much as $1.2 billion to finance infrastructure at the country’s Duqm Special Economic Zone.
Standard Chartered Plc is working as global coordinator to help Oman’s debt management office raise the funds that could be backed by the World Bank’s Multilateral Investment Guarantee Agency, according to an official at the finance ministry. Oman may raise the financing through a loan or bond with a potential maturity of 15 to 20 years, said the official, asking not to be identified.