More than one month has elapsed since the June 4 an­nounce­ment by NCB Fi­nan­cial Group (NCBFG) that it in­tend­ed to raise US$300 mil­lion bond, but there has been near si­lence on the state of the in­ter­na­tion­al cap­i­tal mar­kets of­fer.

The se­nior un­se­cured notes re­ceived an ex­pect­ed cred­it rat­ing of B+ from Fitch Rat­ings and a B– cred­it rat­ing from S&P Glob­al Rat­ings. NCBFG’s ini­tial dis­clo­sure in­di­cat­ed that the of­fer was sub­ject to terms it found ac­cept­able, in­clud­ing pric­ing. The pric­ing ex­er­cise was ex­pect­ed to take place on June 11, and close short­ly there­after. Pric­ing would let in­vestors know the in­ter­est rate and yield on the in­stru­ment.

On Thus­day, an ex­ec­u­tive of NCBFG told Sun­day Busi­ness Guardian, “Re­gard­ing your re­quest for an up­date on our an­nounced po­ten­tial trans­ac­tion to is­sue debt in the in­ter­na­tion­al cap­i­tal mar­kets, we con­firm that the trans­ac­tion is still be­ing pur­sued.