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nogaholding closes inaugural bond issuance

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nogaholding, the investment and development arm of Bahrain’s National Oil and Gas Authority (NOGA) has successfully closed a USD1 billion notes issuance, the first under its USD3 billion, 144A/Reg S, Global Medium-Term Note (GMTN) Programme. 

With a maturity date in 2027, the notes were rated at the sovereign level and substantially oversubscribed, with the order book reaching USD3.8 billion.
 
nogaholding conducted investor meetings between 10 October and 17 October with a delegation led by HE Shaikh Mohamed bin Khalifa Al Khalifa, The Minister of Oil and Chairman of nogaholding and members: Dr Dafer Al Jalahma – Acting Chief Executive, Qaisar Zaman – General Manager Investments and Hassan Al Alawi – Manager Portfolio Management
 
Khalifa Al Khalifa says: “This is our debut into the international debt capital markets and we are pleased with the outcome. Our ongoing strategy at nogaholding is to invest and further grow the oil and gas sector in the Kingdom of Bahrain and position the country as a key international player.
 
“I would also like to extend our thanks to the programme partners for their valuable support in marking nogaholding’s debut issuance a success. We are optimistic about the economic impact that this issuance will have, building on nogaholding’s financial position and growth prospects, of which we are proud.”
 
Al Jalahma says: “We have tapped into the international markets for the first time, which is a significant milestone achievement for our team. I would like to extend my sincere thanks for the team’s dedication and hard work. The bonds were placed with investors from Europe, United States and Asia and we are proud of the volume of interest which is a reflection of their confidence in our future plans.”
 

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