Oman approaches lenders for cash but banks wary of junk risk

AdobeStock_Oman_575x375_06July2020
By Mariam Meskin
06 Jul 2020

Oman, one of only two junk-rated sovereigns in the Gulf region, is tapping lenders for up to $2bn, as some say it could not find the right conditions in the bond market. According to bankers familiar with the deal, credit risk considerations are foremost and the sovereign will have to pay up to borrow.

The Ba3/BB-/BB sovereign is looking to borrow $1bn-2bn from a syndicate of lenders, according to bankers familiar with the transaction. 

One banker who had received a request for proposals (RFP) for the deal confirmed it was targeting the larger end of the range, adding that margins on the proposed ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial