Oman begins marketing the issuance of dollar bonds

0
43


A document reviewed by Reuters showed that the Sultanate of Oman has started marketing the issuance of dollar bonds in two tranches, consisting of bonds for seven years and 12 years, which is the first international bond issuance for the Gulf state this year. The document, issued by one of the banks leading the process, reveals that Oman is marketing seven-year bonds at a 7 percent range, and 12-year bonds at a 7.625 percent range. “This is a very wide range compared to the existing sovereign curve for Oman, where the yield on bonds for seven and 12 years is about 6.25 and 7.2 percent,” said an expert in fixed income instruments, adding that he expected Oman to shrink the range of the two tranches.

A banking source said that there was probably insufficient demand for the three-year tranche, while a fund manager said that Oman already has high debt repayment rates between 2021 and 2023.







LEAVE A REPLY

Please enter your comment!
Please enter your name here