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AMJ has recently advised, as local counsel, OQ S.A.O.C. on the launch of its global medium term notes (GMTN) programme valued at USD 2 billion, as well as on the first issuance under the programme valued at USD 750 million at a rate of 5.125% due in 2028. The firm worked together with the lead international counsel, Allen & Overy, to bring the transaction to a successful closure.

The firm has played a crucial role in the transaction by, inter-alia, advising and supporting the issuer with respect to its compliance with matters of Omani law and in particularly with regard to its successful application for regulatory approvals required for the issuance, notably the exemption from the regulatory cap on commercial interest rates imposed by the Ministry of Commerce, Industry and Investment Promotion, and the approval of the Ministry of Finance’s Debt Management Office on the GMTN programme and the issuance thereunder.

The AMJ team advising on the transaction was led by Mansoor Jamal Malik (Senior Partner), who was supported by Hussein Azmy (Associate) and Al Mujahid Al Nabhani (Associate Trainee).