Dubai, 19 April 2016
Dentons has advised Bank Dhofar on the establishment of its US$500 million Euro Medium Term Note programme. The programme is listed on the Irish Stock Exchange and has been assigned long-term senior unsecured provisional ratings of (P)Baa1 by Moody's and BBB(EXP) by Fitch.
The programme was arranged by the National Bank of Abu Dhabi and HSBC, with Bank ABC, Crédit Agricole CIB and BNP Paribas acting as dealers.
Dentons Capital Markets Partner, Alex Roussos, commented, "We are delighted to have been able to continue our involvement in Bank Dhofar's venture into the capital markets after the Additional Tier I bond the bank issued last year. The establishment by the bank of its EMTN programme is evidence of the fact that issuers are increasingly looking into alternative debt funding structures as the capital markets in Oman continue to develop".
Dentons Banking and Finance Partner in Muscat, Sadaf Buchanan, also commented, "It was a privilege to work with the Bank Dhofar team again on their second debt capital markets transaction and to explore further opportunities with them to also market to both the Oman and international market".
The Dentons team was led by Alex Roussos and Sadaf Buchanan, with assistance from senior associate Beene Ndulo and associate Sana Siddiqui in Dubai and in Muscat by senior associate Justine Harding, associate Yasser Taqi and trainee Budoor Moosa.
For further information, please contact:
Head of Business Development & Marketing - Middle East
+971 4 402 0870
Senior Business Development & Marketing Executive
+971 4 402 0872
Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com.
© Press Release 2016