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Tue 8 Nov 2016 12:15 PM

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National Bank of Oman plans bond early next year – report

Sultanate’s biggest lender may issue in Q1 2017

National Bank of Oman plans bond early next year – report

National Bank of Oman (NBO) is in talks with banks with a view to issuing an international bond early next year, banking sources said on Tuesday.

The Omani lender raised $600 million in debt through a $500 million bond in 2014 and a $100 million tap of that same bond in 2016. Under a tap, an issuer offers a new bond which has the same documentation as an existing deal.

Two bankers active in international debt markets said they expected NBO to issue a new bond in the first quarter of 2017.

A spokesman for the bank said no specific timeline has been set for future debt issues.

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