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Oman talks pricing for two tranches of three-part notes offering
By Rebecca Melvin
New York, Oct. 21 – The government of the Sultanate of Oman, represented by the Ministry of Finance, was guiding the pricing of two of its three planned U.S. dollar-denominated tranches of notes (expected ratings: Ba3//BB-), according to a market source on Wednesday.
The seven-year notes were guided to a 6¾% to 6 7/8% yield after initial price talk in the 7% area.
The 12-year notes were guided to a 7 3/8% to 7½% yield after initial price talk in the area of 7 5/8%.
The sovereign was also planning a tranche of three-year notes, according to a previous report.
The order books for the new issues were in excess of $3.4 billion, skewed toward the seven-year tranche at the time guidance was released, the source said.
Bank Muscat, Citi, First Abu Dhabi Bank, HSBC, Natixis, Societe Generale and Standard Chartered Bank are joint lead managers and bookrunners of the Rule 144A and Regulation S deals.
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