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Oman Arab Bank (OAB), rated Baa3 by Moody’s and BBB- by S&P and Fitch (all with a stable outlook), has mandated a dollar-denominated benchmark perpetual non-call 5.5-year AT1 bond.
Abu Dhabi Commercial Bank, Arab Bank, Arqaam Capital, Citi, Emirates NBD Capital, First Abu Dhabi Bank, Kamco Invest, Oman Investment Bank, Standard Chartered Bank, and Ubhar Capital are working on the issuance as joint global coordinators, joint lead managers and joint bookrunners to arrange a global investor conference call and a series of fixed income investor calls commencing Monday.
The fixed rate resettable Regulation S issuance will list on the London Stock Exchange’s International Securities Market.
FCA/ICMA stabilisation applies.
OAB, which is listed on the Muscat Stock Exchange, is owned 49% by Arab Bank and 31% by Oman International Development and Investment Company SAOG, according to LSEG data.
(Writing by Bindu Rai, editing by Seban Scaria)
