Oman's financial flurry ahead of 2015: BankDhofar to raise capital by up to OMR 115.5 m (USD 300 m), plans bond issue

Bank Dhofar plans to boost its capital by issuing up to OMR115.5 million of Tier 1 capital instruments in 2015.

This is part of an initiative to strengthen its capital base and fund planned growth in the coming years. In addition, the bank said it would issue up to $500 million of senior non-capital debt instruments in the next four years.

Both plans would require shareholder and regulatory approvals. BankDhofar also said that it would call for extra-ordinary general meeting of the shareholders to consider and approve the above, subject to regulatory approvals.