Gulf International Bank Announces Successful USD 1 Billion Term Loan Financing for Energy Development Oman

Gulf International Bank B.S.C. (GIB) announced the successful closing of a USD 1 billion five-year term loan facility for Energy Development Oman (EDO), arranged together with Mashreq as Joint Initial Mandated Lead Arrangers, Underwriters and Bookrunners.

The transaction attracted strong participation from an international group of 15 banks. Initially launched at USD 750 million, the facility was upsized to USD 1 billion following significant oversubscription and robust demand from both EDO’s core relationship banks and new international lenders. More than half of the final allocations were made to banks outside the GCC, especially Asia, with major Chinese and Indian institutions among the key participants.
The financing marks another milestone for EDO in diversifying its funding sources and strengthening its access to global capital markets. The proceeds from the facility will be used for a combination of capex financing and refinancing of existing debt.

“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 from our banking partners and for the leadership of GIB and Mashreq in arranging a highly successful syndication,” said Eng. Mazin Al-Lamki, CEO of Energy Development Oman.

Adding, Sara Abdulhadi, CEO of GIB B.S.C., said, “We are delighted to have supported EDO on this landmark financing. The strong demand and participation from institutions across Asia and beyond highlight both the quality of the borrower and the strength of GIB’s syndication and structuring expertise. We remain committed to serving leading regional corporates and sovereign-linked entities with innovative financing solutions.”