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National Bank of Oman SAOG (NBO), one of Oman’s biggest lenders, has appointed a syndicate of banks to arrange a series of investor meetings ahead of a potential Additional Tier 1 (AT1) issuance.
Subject to market conditions, NBO plans to issue a Reg S benchmark, unrated, registered perpetual non-call 5.5-year Basel III-compliant fixed-rate resettable AT1 capital securities.
The bank has mandated Abu Dhabi Commercial Bank, Arqaam Capital, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan, Mashreq, National Bank of Oman SAOG, Oman Investment Bank SAOC, Standard Chartered Bank and The Commercial Bank (P.S.Q.C.) as joint lead managers and bookrunners.
NBO is rated Baa3 with a stable outlook by Moody’s and BB with a positive outlook by Fitch.
Investor calls and physical meetings began on Monday, November 10 in London. The securities will be listed on Euronext Dublin.
(Writing by Brinda Darasha; editing by Seban Scaria)
