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29-06-14

Oman's Electricity to issue USD2b loan

(MENAFN) Oman's Electricity Holding Company, the holding firm for all electricity firms in the sultanate, will issue USD2.08 billion-worth loan or bond by the middle of 2015, according to Arab News. The firm has hired two major domestic banks to help it with fundraising options, with a decision on how to raise the cash likely to be made in the next couple of months. Chief Executive of the Electricity Holding Company said that the funds raised would be used to finance the expansion of the transmission and distribution systems of its subsidiary companies.