NBO closes $300m term loan facility

National Bank of Oman (NBO), has successfully closed its debut $300 million 3-year syndicated term loan facility which was signed on Aug.29th, 2019. The proceeds of the facility will be used for general corporate purposes.

Bank ABC and Emirates NBD Capital Limited 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.

Meanwhile the National Bank of Oman offers first of its kind banking solution at the touch of a button. NBO is driving innovation in the banking sector, pioneering branchless services in the Sultanate. To date, the bank has activated a number of innovative digital products and services which are making customers’ lives easier and more convenient. Recently it became the first bank to offer the ability to order its popular Badeel prepaid cards directly through its award-winning app, meaning customers and non-customers alike can apply from anywhere, simply by logging in through their mobile phones. Badeel cards offer an effortless way for customers and non-customers to manage their finances and can be used for day-to-day purchases, online transactions and bill payments.

Agencies