By Christine Van Dusen
Atlanta, March 1 – Oman priced a combined $5 billion of notes due in five, 10 and 30 years (Baa1/BBB-) on Wednesday, a market source said.
The $1 billion 3 7/8% five-year notes priced at 99.488 to yield 3.989%, or mid-swaps plus 190 basis points, tighter than talk in the 215 bps area.
The $2 billion 5.425% 10-year notes priced at 99.618 to yield 5 7/8%, or mid-swaps plus 300 bps, following talk in the 245 bps area.
And the $2 billion 6˝% 30-year notes priced at 99.36 to yield 6.549%, or mid-swaps plus 387.5 bps. Talk was set in the 425 bps area.
Alizz, Citigroup, Dubai Islamic Bank, Gulf International Bank, HSBC, JPMorgan and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds from the issue will be used to address the sultanate’s budget deficit.
| Issuer: | Oman
|
| Amount: | $5 billion
|
| Description: | Notes
|
| Bookrunners: | Alizz, Citigroup, Dubai Islamic Bank, Gulf International Bank, HSBC, JPMorgan, Standard Chartered Bank
|
| Trade date: | March 1
|
| Settlement date: | March 8
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 8, 2022
|
| Coupon: | 3 7/8%
|
| Price: | 99.488
|
| Yield: | 3.989%
|
| Spread: | Mid-swaps plus 190 bps
|
| Price talk: | Mid-swaps plus 215 bps area
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | March 8, 2027
|
| Coupon: | 5.425%
|
| Price: | 99.618
|
| Yield: | 5 7/8%
|
| Spread: | Mid-swaps plus 300 bps
|
| Price talk: | Mid-swaps plus 245 bps area
|
|
|
| 30-year notes
|
| Amount: | $2 billion
|
| Maturity: | March 8, 2047
|
| Coupon: | 6˝%
|
| Price: | 99.36
|
| Yield: | 6.549%
|
| Spread: | Mid-swaps 387.5 bps
|
| Price talk: | Mid-swaps plus 425 bps area
|
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