An ambitious capital markets financing backed by exposure to Oman’s massive Al Madina al Zarqa (Blue City) project was roadshowed last month by Bear Stearns and Standard Chartered. The $900 million Blue City Investments transaction is unusual in that it not only incorporates construction risk but also a provision that repayment of the notes is dependent on future residential sales of the properties to be constructed.
The whole Al Madina al Zarqa project envisages the creation of a completely new city in Oman covering 34 sq km of coastal land.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
