National Bank of Oman (NBO) has signed a $100 million five-year syndicated loan facility to restructure part of its short-term US dollar borrowings.

Deutsche Bank, Barclays Bank, ING Barings and Gulf International Bank are the arrangers and underwriters of the facility, which NBO's general manager, Aubyn Hill, says will enhance the bank's financial stature through a stronger balance sheet.

Four German banks, Hypo Verinsbank, Bayerische Landesbank, DG Bank and Berliner Bank, acted as co-arrangers in the 14-member syndicate. Lead managers were Banque Nationale de Paris, Westdeutsche Genossenschafts and Qatar National Bank.

Doha Bank, Erste Bank of Austria and Union de Banques Arabes & Francaises (UBAF) joined as managers for the loan signed on 12 October by NBO's deputy chairman, Tawfiq Ahmed Sultan.