Helen_Dean

CMS with Oman Broadband company on financing deal 

International law firm CMS has advised Oman Broadband Company, wholly owned by the Government of the Sultanate of Oman, on a major new financing deal using a hybrid facility (with conventional and Shariah-compliant tranches) and involving a group of Omani banks, five conventional and three Islamic institutions.  The deal is worth OMR 171m (USD 445m).  

Mandated by the Government to build and develop a broadband structure to address low levels of coverage in parts of the Sultanate, Oman Broadband has agreed this major loan facility over a 16-year term. This will enable the improvement of broadband penetration in the country and help to bridge the urban/rural digital divide in line with the nation’s broadband strategy. 

CMS acted as Oman Broadband’s legal counsel as well as structuring, drafting and negotiating the agreements for the facility that will be used to refinance an existing facility with the Asian Infrastructure Investment Bank, and partly to fund its capital expenditure on broadband infrastructure. The agreements were governed by English and Omani law.  

The CMS team was led by senior associate Helen Dean (pictured) working alongside Muscat-based lawyers Bassam Al Raisi and Safa Al Bulushi (banking & finance). 

CMS with Oman Broadband company on financing deal 

suzan.taha@lcpublishinggroup.it

legalcommunitymena.com

Launched in 2022 by LC Publishing Group S.p.A., it is the first digital portal addressed to the Middle East North Africa market.

In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointmens and providing insights, analytical data and opinions on the professions’ main trends and topics (AI, innovation, etc.).

For further information, please visit the Group’s website www.lcpublishinggroup.com

Legalcommunity MENA
LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2023 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram