GIB Secures $1 Billion Term Loan Financing for EDO: What This Means for Business Growth and Investment Opportunities in Oman
Muscat: Gulf International Bank BSC (GIB), a prominent regional financial institution based in Bahrain, has successfully closed a $1 billion five-year term loan facility for Energy Development Oman (EDO). The loan was arranged jointly with Mashreq, serving as Joint Initial Mandated Lead Arrangers, Underwriters, and Bookrunners.
The facility initially targeted $750 million but was increased to $1 billion due to significant oversubscription and strong demand from an international syndicate of 15 banks. Over half of the final allocations were made to banks outside the GCC, notably from Asia, with major Chinese and Indian financial institutions among the key participants.
This financing represents a significant milestone for EDO in diversifying its funding sources and enhancing its access to global capital markets. The proceeds will be allocated for capital expenditure financing and refinancing existing debt.
Eng Mazin al Lamki, CEO of Energy Development Oman, stated, “This transaction demonstrates the continued confidence of the international banking community in EDO’s credit profile and strategic direction. We are grateful for the support of our banking partners and commend the leadership of GIB and Mashreq in arranging a highly successful syndication.”
Sara Abdulhadi, CEO of GIB BSC, commented, “We are delighted to have supported EDO on this landmark financing. The strong demand from institutions across Asia and beyond underscores the quality of the borrower and the strength of GIB’s syndication and structuring capabilities. We remain committed to providing leading regional corporates and sovereign-linked entities with innovative financing solutions.”
Special Analysis by Omanet | Navigate Oman’s Market
The successful $1 billion term loan for Energy Development Oman (EDO), heavily oversubscribed and attracting significant international interest, signals strong global confidence in Oman’s energy sector and its creditworthiness. For businesses, this highlights growing access to diversified, global capital markets, presenting opportunities to leverage foreign investment for expansion and modernization. Smart investors and entrepreneurs should monitor such strategic financing moves as indicators of sector stability and potential partnership or investment openings in Oman’s evolving energy landscape.
