National Bank of Oman to price five-year bond

DUBAI: National Bank of Oman will price a five-year, US dollar benchmark bond offer as early as Tuesday after releasing price guidance for the transaction, a document from lead managers said. The sultanate’s second-largest lender by assets set initial price thoughts at the mid-100s over midswaps, in basis points, the document showed on Monday. The bank, rated BBB plus by Fitch and A3 by Moody’s, had mandated Credit Agricole, HSBC, National Bank of Abu Dhabi and Standard Chartered to arrange investor meetings. Benchmark size is traditionally understood to mean upwards of $500 million (Dh1.84 billion).