Room for high yield EM credits 'no issue' as Oman returns for dollars
The Sultanate of Oman's return to debt markets is proof to some that the market is wide open for high yielding emerging market issuers. The sovereign mandated banks for a dollar deal as investors, hunting for yield, appear undeterred by volatility in the US rates market.
Oman, rated Ba3/BB- by Moody's and Fitch, is seeking to print a Reg S/144A dollar bond consisting of 10 and 30 year tranches.
The sovereign is also seeking to tap its $750m 4.875% 2025 notes.
Investor calls started on Tuesday.Citi, HSBC, JP Morgan and Standard Chartered are ...