NBO mandates banks for new dollar bonds issue

September 12, 2018

National Bank of Oman (NBO) has mandated banks as joint lead managers and bookrunners to arrange a series of fixed-income investor meetings in Asia, Middle East and Europe. A benchmark five-year USD RegS senior unsecured bond offering under NBO’s US$1.5bn Euro Medium Term Note Programme (EMTN) will follow, subject to market conditions, NBO said in a filing to the Muscat Securities Market.

The banks which have been mandated by NBO to arrange investor meetings are: Bank ABC, Citi, Crédit Agricole CIB, Emirates NBD Capital, First Abu Dhabi Bank, National Bank of Oman and Standard Chartered Bank.

NBO has also announced a tender offer for its outstanding US$600mn 3.125 per cent notes maturing on October 7, 2019. ‘The tender offer is closed to the United States. Whether NBO will accept for purchase notes validly tendered in the tender offer is subject to the successful completion (in the sole determination of NBO) of the issue of new notes,’ NBO said.

Citi and Crédit Agricole CIB have been appointed as global coordinators and dealer managers of the tender offer, while Bank ABC, Emirates NBD Capital, First Abu Dhabi Bank, National Bank of Oman and Standard Chartered Bank have been appointed as dealer managers.