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Press Release

MB Petroleum Services successfully launches the first high yield
bond issued by any private Oil & Gas company in the region

MB Petroleum Services (MBPS) the flag ship company of MB Holding group of companies recently launched its maiden high yield bond issue of US$ 320 million.

This maiden bond issue also heralds the entry of MB Group into the global capital markets. The notes are listed on Luxembourg Stock Exchange’s Euro MTF Market. The notes were issued through MBPS Finance Company (Issuer) a wholly owned subsidiary of MBPS, which are guaranteed on a senior basis by its parent, MB Holding Co. LLC (“MB Holding”), MBPS and certain of its subsidiaries. The Notes has been rated B+ by Standard & Poors and BB- by Fitch.

Barclays Capital, HSBC and Standard Chartered Bank were the Joint Book runners and Joint Lead Managers to the issue. Investors from US, Europe, Middle East and Asia participated in this issue.

Dr. Mohammed Al Barwani, Chairman, MB Holding group of companies was very upbeat on the response to the issue - He said “The MB Petroleum services bond issue is the first high yield bond issued by any private company in the region. Our operations are in more than 15 countries and we have steady, well thought out plans for growth across the globe. This is a step in that direction”.

Chief Financial Officer of MB Holding group of companies, Sushil Srivastava further added, “The broader objective of this bond is to establish MB Group in the capital markets, bring foreign investment in Oman, diversify its sources of funding, improve short term liquidity of MBPS and improve corporate governance including reporting transparency. This will position MB Group itself to set a track record for long term expansion and growth in Oman and internationally”.

MB Petroleum Services is one of the largest oilfield services companies in the Middle East with operations in 16 countries and have an impressive list of clients including Saudi Aramco, Qatar Petroleum, Total, Royal Dutch Shell and Chevron among others.

MB Petroleum services is part of MB Holding group of companies which employs more than 6500 employees in over 15 countries across 4 continents. It has diversified businesses across drilling and integrated oilfield services, exploration and production of oil and gas, engineering, manufacturing & trading, and mining and processing of minerals.

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