Banking & Finance
NBO concludes US$300 million bond issuance
National Bank of Oman (“NBO”) reports that it has received strong interest from international investors and has successfully concluded the US$300 million bond issuance.

National Bank of Oman (“NBO”) reports that it has received strong interest from international investors and has successfully concluded the US$300 million bond issuance.
Led by Chief Executive Officer Ahmed Al Musalmi, NBO held meetings with over 50 prominent investors in Hong Kong, Singapore, Abu Dhabi, Dubai and London, producing an order book that is oversubscribed 1.8 times.
Mr. Mohammed Mahfoodh Al Ardhi, Chairman of NBO, said: “NBO’s clear strategy and strong balance sheet has earned the trust and respect of the global investment community. This issuance will build on the highly successful 2014 bond and will ensure the bank has the necessary capital to support our customers and the ongoing diversification of Oman’s economy.”
The benchmark USD perpetual Tier 1 Regulation S bond will help to optimise NBO’s capital structure and further strengthen its capital position relative to regional peers. The orderbook comprises a healthy mix of leading Omani and global investors, which will help to further diversify the bank’s investor base
Mr. Ahmed Al Musalmi, Chief Executive Officer of NBO, added: “NBO’s successful issuance of tier one capital instrument represents another important milestone in the bank’s ambitious five-year growth strategy to be the Sultanate’s bank of choice. The strength of the order book against the backdrop of challenging market conditions reflects the bank’s positive standing in the global debt markets.”
NBO enjoys a strong reputation in the global financial markets and is rated A3 by Moody’s and BBB by Fitch. In 2014, NBO successfully concluded a three times oversubscribed USD$500 million Reg S bond issuance under its Euro Medium Term Notes (EMTN) programme. These funds raised were used to repay existing dollar liabilities and also support the growth of the bank’s dollar loan portfolio.
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