Published on 12/7/2020 in the Prospect News Emerging Markets Daily.
New Issue: Oman sells $500 million more 6¾% notes due 2027, 7 3/8% notes due 2032
By Marisa Wong
Los Angeles, Dec. 7 – The government of the Sultanate of Oman issued $200 million of additional 6¾% notes due 2027 at 102.482 and $300 million of additional 7 3/8% notes due 2032 at 103.806, according to notices.
The add-on 2027 and 2032 notes (expected: Ba3//BB-) will be consolidated and form a single series with the existing $1.25 billion of 6¾% notes due 2027 and $750 million of 7 3/8% notes due 2032, respectively. The original tranches were issued on Oct. 28.
Citigroup Global Markets Ltd., HSBC Bank plc, Natixis and Standard Chartered Bank are the joint lead managers for the Regulation S and Rule 144A tap issues.
| Issuer: | Sultanate of Oman (through the Ministry of Finance)
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| Issue: | Notes, add-on
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| Amount: | $500 million
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| Managers: | Citigroup Global Markets Ltd., HSBC Bank plc, Natixis and Standard Chartered Bank
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 1
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| Expected ratings: | Moody’s: Ba3
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| Fitch: BB-
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| Distribution: | Rule 144A and Regulation S
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| 2027 notes
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| Amount: | $200 million
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| Maturity: | Oct. 28, 2027
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| Coupon: | 6¾%
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| Price: | 102.482
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| Total issuance: | $1.45 billion, including $1.25 billion issued on Oct. 28
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| 2032 notes
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| Amount: | $300 million
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| Maturity: | Oct. 28, 2032
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| Coupon: | 7 3/8%
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| Price: | 103.806
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| Total issuance: | $1.05 billion, including $750 million issued on Oct. 28
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