Oman's NBO closes $300mln Syndicated Term Loan Facility

The proceeds of the facility will be used for general corporate purposes

  
Omani Riyal. Image for illustrative purposes.

Omani Riyal. Image for illustrative purposes.

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National Bank of Oman (NBO), has successfully closed its debut $300 million three-year Syndicated Term Loan Facility which was signed on August 29, 2019.

The proceeds of the facility will be used for general corporate purposes. Bank ABC and Emirates NBD Capital acted as the joint coordinators, initial mandated lead arrangers and bookrunners on the facility. In addition to Bank ABC and Emirates NBD, eight international and regional lenders committed to the facility with the facility being over-subscribed in general syndication.

National Bank of Oman is the first Omani Bank to be incorporated in the Sultanate of Oman in 1973 as a joint stock company, providing conventional and Islamic banking services. The bank's shares are listed on the Muscat Securities Market. NBO operates via five main segments, namely, Retail Banking, Corporate Banking, Investment Banking, Treasury and International Banking, and Islamic Banking. The bank is rated Ba1 (Negative) by Moody's.

 

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