Oman’s triple-tranche deal trades mixed; Latin America deals price as rates come back in

By Rebecca Melvin

New York, Jan. 11 – Oman’s new $6.5 billion of notes in three tranches traded mixed on Thursday upon release for secondary market dealings, according to a market source.

The new Oman five-year notes slipped from initial pricing while the 10-year and 30-year maturities lifted.

The sovereign’s older notes were mostly slightly wider in terms of spread, but the near-dated 3 5/8% notes due 2021 were 1.6 basis points tighter, and the far-dated 6½% notes due 2047 were also slightly tighter.

The new 4 1/8% notes due 2023 were seen in the market at 99.38 bid, 99.47 offered, which was off slightly from 99.549 where they initially priced.

But the new 5 5/8% notes due 2028 were at 99.95 bid, 100.05 offered, which was a little higher than their 99.803 pricing point. And the 6¾% notes due 2048 were seen at 99.62 bid, 99.97 offered, which was about a point higher than the 98.796 new issue price point.

In Latin America, three deals priced well and at the upper ranges of expected deal size. Both Marfrig Global Foods SA and BBVA Bancomer SA priced $1 billion deals, and Nemak SAB de CV brought a $500 million issue. Rede D’Or Sao Luiz SA was pricing at the end of the session, but final terms were not heard by Prospect News’ deadline.

© 2015 Prospect News.
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