The shareholders of National Bank of Oman approved the issuance of a Tier-1 instrument of up to $300 million, the lender said on Thursday.

They also approved increasing the limit of an existing $600 million Euro Medium Term Notes (EMTN) programme to $1.5 billion in the next four years, depending on regulatory approvals.

EMTN also includes the possibility of issuing a Tier-2 instrument, which the lender earlier said could be worth up to $900 million.-Reuters