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Mazoon Electricity signs Islamic financing contract worth $235 million
By: Times News Service
Muscat: Mazoon Electricity Company (MZEC), a subsidiary of Nama Holding, announced the signing of its debut Islamic financing facility for an amount of $235,000,000.
The proceeds will be used to finance the capital expenditure plans of MZEC for 2021 mainly comprising investments in the electricity distribution and supply network in its license areas in Oman.
The facility is structured as a 2-year Ijarah bridge facility marking the first Islamic bank facility for Nama Group that has in the past raised several conventional bank loan facilities and issuances in the debt capital markets under RegS and 144a format, including a 10-year $500,000,000 debut Sukuk in 2017. The facility received interest from regional banks of Bahrain, Kuwait and United Arab Emirates with 12 financiers participating in the facility and an oversubscribed order book.
United-arab-emiratesKuwaitWomanBahrainAhmed-tufailAl-kamyaniNama-holdingNational-bankMazoon-electricity-companyNama-groupBahrain-islamic-bankMazoon-electricityTanweer hosts virtual contractor forum
By: Times News Service
MUSCAT: Tanweer, Rural Areas Electricity Company, member of Nama Group, hosted the Contractor Forum, on December 14, which brought together the company s key contractors, suppliers and consultants. The event was held virtually to support and encourage two-way communication.
The Contractor Forum brings together local and international contractors and suppliers to share their experience and learning. The forum also provides a unique opportunity for the suppliers and contractors to learn about Tanweer’s future business opportunities and expectations.
Besides, the forum aims to reinforce the importance of two-way communication and provides transparency as well as facilitates positive interactions with the contractors aimed at enhancing their financial capacity to successfully undertake Tanweer’s projects. The event also provides an opportunity and the need for developing and supporting local small and medium enterprise
SharqiyahAl-mintaqah-ash-sharqiyahWomanDhofarZ-ufarMusandamOmaniAl-dakhiliyahAl-duqmAl-dhahirahElectricity-holding-company-namaOman-investment-authority