Dentons, a major global law firm, has advised the National Bank Oman (NBO) on the establishment of a listed and rated $600 million Euro Medium Term Note programme, and the debut issue of $500 million 3.125 per cent Notes.

The Programme and issue are rated (A3, Moody's) and listed on the Irish Stock Exchange. The Programme was arranged by HSBC, National Bank of Abu Dhabi, Credit Agricole Corporate Investment Bank and Standard Chartered Bank.

Sadaf Buchanan, Dentons Banking and Finance partner, said: "We are delighted to have advised NBO on this landmark deal. This transaction is one of only a handful of EMTN programmes ever to be established for an Omani issuer and the second for an Omani financial institution."

Matthew Sapte, Dentons Banking and Finance partner, said: "It has been a real pleasure working with both the NBO team and the Arrangers on such an important transaction. The success of the transaction demonstrates investors' interest in Oman and Omani issuers. We hope to see more in the near future."

Ananth Venkat, the CFO of NBO, said: "NBO's first bond issuance under the new EMTN programme issue was more than three times oversubscribed. Reflecting our leading market position both in the Sultanate of Oman and across the region, the bond attracted significant interest from global investors from the Mena region, Europe and Asia.”

“We are pleased to see that the market is confident in our current performance and strategic direction. The Dentons team deserve a special mention: they helped us all the way to closure of the deal and were responsive at all times,” he added.

The Dentons team was led by partners Sadaf Buchanan and Matthew Sapte, with assistance from associates Ahmed Choudhry, Laura Cansdale and trainee legal assistant Fatma al Rashdi. – TradeArabia News Service