Oman Arab Bank (OAB) has successfully closed a new Subordinated Perpetual Additional Tier 1 Bond issuance of OMR 40 million with a green shoe option of OMR 10 million to meet strong investor demand. The bond attracted an overwhelming response from investors and was oversubscribed by 60%. The bonds will carry a coupon rate of 7.00% p.a. for the first five years and will be listed on the Muscat Stock Exchange (MSX).