High yield issuers take front stage though CEEMEA ‘underwhelming’

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By Mariam Meskin
14 Jan 2021

Junk-rated emerging market sovereigns Benin and Oman sold bonds this week, with market participants saying their new issue premiums were minimal. However, bankers think total activity across CEEMEA over the last two weeks has been “underwhelming”.

Oman raised $3.25bn with a dual tranche Reg S/144A and a tap of its existing dollar bonds.

The deal consisted of a $1.75bn 6.25% 10 year tranche, a $1bn 7.25% 30 year tranche, and a $500m tap of its 4.875% 2025s.

A banker on the deal confirmed the total books exceeded $15bn ...

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