Oman's second biggest bank, National Bank of Oman (NBO), is likely to raise $600 million from overseas markets by next year, which will be partly used for repaying a large $325 million syndicated loan that matures by then.
The bank's shareholders have recently approved the Euro Medium Term Note Programme (EMTNP) or bond issue. "The issue will be floated by next year. We have some flexibility in the timing of the issue," Humayun Kabir, General Manager (Wholesale Banking) of NBO told Times of Oman in an exclusive interview.
The market condition and the bank's requirement will determine whether to raise the fund in one issue or multiple issues.
NBO is the second Omani bank, after BankMuscat, which plans to raise dollar dominated funds from overseas markets.
No comments:
Post a Comment