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National Bank of Oman Sets Final Guidance For Bond; Books Top $1.2bn

National Bank of Oman Sets Final Guidance For Bond; Books Top $1.2bn

The Sultanate’s second-largest lender by assets is earmarked to price its deal at 140 basis points, plus or minus 5 bps, over midswaps.

National Bank of Oman has set final guidance for its five-year U.S. dollar benchmark bond which is expected to price later on Tuesday, a document from lead managers said.

The Sultanate’s second-largest lender by assets is earmarked to price its deal at 140 basis points, plus or minus 5 bps, over midswaps. It had set initial price thoughts at the mid-100s over midswaps on Monday.

Investor orders top $1.2 billion for the issue, the document showed. Benchmark size is traditionally understood to mean upwards of $500 million.

The bank, rated BBB plus by Fitch and A3 by Moody’s, has mandated Credit Agricole, HSBC, National Bank of Abu Dhabi, and Standard Chartered to arrange the transaction.

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