KHALEEJ TIMES, Saturday, Sep 21, 2019 | Muharram 22, 1441
NBO closes $300m Syndicated Term Loan Facility
Emirates: 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.