National Bank of Oman tenders for $300 million of 3 1/8% notes

By Susanna Moon

Chicago, Sept. 10 – National Bank of Oman SAOG is tendering for up to $300 million of its $600 million 3 1/8% notes due 2019 using proceeds of new dollar-denominated notes.

The purchase price will be 100.125% plus accrued interest to but excluding the settlement date.

The tender offer will end at 11 a.m. ET on Sept. 17.

The offer is being made along with the issue of new notes so that the issuer may “proactively manage upcoming debt redemptions, optimize its cost of debt and improve balance sheet efficiency and to extend its debt maturity profile,” according to the announcement.

The tender is contingent on the issue of new notes, which are expected to price before the offer ends.

Noteholders who subscribe for new notes in addition to tendering in the offer may receive priority in the allocation of the new notes.

To request a new issue allocation, noteholders should contact a dealer manager.

Settlement is expected to occur on Sept. 25.

The global coordinators and dealer managers are Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com), Credit Agricole CIB (+44 20 7214 7408 or liability.management@ca-cib.com). The dealer managers are Arab Banking Corp., Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, National Bank of Oman SAOG and Standard Chartered Bank.

The tender and information agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or nbo@lucid-is.com).

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