By Rebecca Melvin
New York, Jan. 11 – The Sultanate of Oman, acting through its Ministry of Finance, priced $6.5 billion of notes (expected ratings: Baa2//BBB-) in three tranches of five-, 10- and 30-year maturities, according to a market source on Thursday.
The $1.25 billion tranche of 4 1/8% five-year notes priced at 99.549 of par to yield 4.27%.
The $2.5 billion tranche of 5 5/8% 10-year notes priced at 99.803 of par to yield 5.73%.
And the $2.75 billion of 6¾% 30-year notes priced at 98.796 of par to yield 6.96%.
The Rule 144A and Regulation S notes were priced by joint bookrunners Citigroup, HSBC, JPMorgan, SMBC Nikko and Standard Chartered Bank following a series of fixed-income investor meetings.
The notes were priced as part of the government’s unlimited global medium-term note program.
| Issuer: | Oman
|
| Description: | Senior unsecured notes
|
| Total amount: | $6.5 billion
|
| Bookrunners: | Citigroup, HSBC, JPMorgan, SMBC Nikko and Standard Chartered Bank
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 11
|
| Distribution: | Rule 144A and Regulation S
|
| Expected ratings: | Moody’s: Baa2
|
| Fitch: BBB-
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 17, 2023
|
| Coupon: | 4 1/8%
|
| Price: | 99.549
|
| Yield: | 4.27%
|
|
|
| 10-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | Jan. 17, 2028
|
| Coupon: | 5 5/8%
|
| Price: | 99.803
|
| Yield: | 5.73%
|
|
|
| 30-year notes
|
| Amount: | $2.75 billion
|
| Maturity: | Jan. 17, 2048
|
| Coupon: | 6¾%
|
| Price: | 98.796
|
| Yield: | 6.96%
|
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