Dentons advises Bank Dhofar and OETC

Dentons advised Bank Dhofar on its issuance of USD300 million Perpetual Tier 1 Capital Securities, which completed on May 27, 2015. The transaction represented the first ever issuance of Basel III-compliant securities in the form of Additional Tier 1 bonds in Oman and Bank Dhofar's maiden international bond issuance. The Capital Securities were listed on the Irish Stock Exchange and were offered to sophisticated investors outside of the United States in reliance on Regulation S under the US Securities Act 1933. National Bank of Abu Dhabi and Standard Chartered Bank acted as Joint Global Coordinators and, together with Emirates NBD Capital, as Joint Lead Managers on the issuance of the Capital Securities. Union National Bank acted as Co-Lead Manager on the transaction.

 The Dentons Muscat team was led by partner Sadaf Buchanan, working with partner George Sandars, senior associate Justine Harding and associate Fatma al Rashdi. Capital Markets partner Alex Roussos led the Dubai team working with senior associate Beene Ndulo and associate Katie Phillips.

 Dentons also advised Oman Electricity Transmission Company (OETC) and Electricity Holding Company (EHC) on OETC's debut issuance of USD1 billion Notes, completed on May 7, 2015. OETC is the Sultanate's main electricity transmission network operator. The issuance of the Notes marks the first ever investment grade international bond issuance by an Omani corporate entity and also the largest ever international capital markets issuance out of Oman. The Notes were listed on the Irish Stock Exchange and were offered to qualified institutional buyers in the United States in reliance on rule 144A under the US Securities Act 1933 and to sophisticated investors outside of the United States in reliance on Regulation S under the same Act. bank muscat and J.P. Morgan Securities acted as Joint Lead Managers on the transaction.

 The Dentons Muscat team was led by Sadaf Buchanan working with partner George Sandars, associate Darshi Sanganee and junior associate Fatma al Rashdi. Capital Markets partner Alex Roussos led the Dubai team working with associate Katie Phillips. Corporate partner Walter Van Dorn led the New York team working with senior managing associate Brian Lee.