The National Bank of Oman (NBO) is preparing to tap international investors with a new Additional Tier 1 (AT1) capital issuance, marking another bold step in the country’s financial sector.
The bank has enlisted a powerhouse lineup of regional and global institutions to arrange investor meetings and manage the offering. Among them are Abu Dhabi Commercial Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan, Mashreq, Arqaam Capital, Standard Chartered Bank, The Commercial Bank (P.S.Q.C.), Oman Investment Bank, and NBO itself — all acting as joint lead managers and bookrunners.
Subject to favorable market conditions, the bank intends to issue a Regulation S benchmark, perpetual non-call 5.5-year, Basel III-compliant AT1 capital instrument. The securities will carry a fixed-rate structure with a reset feature and will be listed on Euronext Dublin.
Investor engagement kicked off in London on November 10, with both in-person and virtual meetings aimed at gauging appetite for the offering.
NBO currently holds credit ratings of Baa3 (stable) from Moody’s and BB (positive) from Fitch — ratings that underline its steady position in Oman’s banking landscape as it seeks to bolster its capital base through this strategic issuance.
