National Bank of Oman (NBO) has launched a USD100mn tap of its existing 2019 bond at initial price thoughts in the area of 225 basis points over midswaps, lead managers said on Tuesday. The transaction is being arranged by Credit Agricole and National Bank of Abu Dhabi and should price as soon as later in the day, according to the leads. Under a tap, an issuer offers a new bond which has the same documentation as an existing deal, thereby negating the time and expense of drafting a new offering. In the case of NBO, its USD500mn five-year bond that was issued in October 2014 is being used. That deal carried a 3.125% coupon and was trading on Tuesday at a z-spread of 213.8 basis points, according to Thomson Reuters data. (Reuters)   National Bank of Oman: OMR0.25 as of 12 July 2016, Rating: Neutral, FV: OMR0.26 per share, MCap: USD962mn, NBOB OM / NBO.OM