London Stock Exchange welcomes OQ celebrating their inaugural bond listing on the Main Market
OQ is a global integrated energy company with deep roots in the Sultanate of Oman that provides solutions across the value chain from upstream to midstream and downstream applications. OQ has solid position as a leading local and global energy company.
OQ counts with a large number of quality assets and a diversified international footprint with excellent export market access.
The strong upstream presence is evidenced by 14 oil and gas fields, with a production of 106 kbd of oil and 426 mmcfpd of gas (2021). It possesses substantial 2P reserves of 926 mmboe and is also the exclusive owner & operator of materially all of Oman's 4,000km of gas pipelines.OQ possesses a sizeable downstream business with 16 plants – it is the sole refiner in Oman, operates the only steam cracker in the country, and has an established international presence, which includes 6 specialty chemical plants in Germany, the United States, the Netherlands and China. Refining and petrochemical capacities in Oman of 308 kbd and 2,536,000 MT, respectively. OQ’s downstream plants produce over 70 chemical products, which distributes to over 1,000 customers in over 70 countries through OQ's trading arm. OQ employs more than 6,800 employees worldwide.
On May 06th, OQ established its debut GMNT programme and successfully raised USD 750 million with its inaugural bond transaction. The issuance saw strong investor participation, with demand from a diverse group of high-quality investor’s worldwide and peaked orderbooks for more than USD 4.5 billion.The new bond is rated at BB- by Fitch (Stable outlook), and listed in the London Stock Exchange. The note has a tenor of 7 years and 5.125% coupon, 144a/Regulation S format; and represents a senior unsecured obligation for the company. Proceeds uses are envisioned for general corporate purposes.