Oman
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Oman's loan borrowing splurge has ramped up a notch with the country's ministry of finance seeking a large loan, with Chinese banks as central participants. -
Oman Electricity Transmission Company seems to have timed it right for a $500m 10 year trade just days before a likely sovereign downgrade, with the issuer managing to price its deal well inside where analysts spotted fair value.
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Oman Electricity Transmission Company timed it right for a $500m 10 year trade on Tuesday just days before a likely sovereign downgrade, with the issuer managing to price its deal well inside where analysts spotted fair value.
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Oman Oil is set to bring a raft of financings to the syndicated loan market, and has begun by seeking to refinance the $1bn tranche from a $1.85bn loan it took out in 2014.
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Oman Oil wants to refinance the $1bn tranche from a $1.85bn loan it took out in 2014, adding to the company’s much wider financing plan, according to a banker on the deal.
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New deals from the Middle East are beginning to flow. Saudi Arabia's International Company for Water and Power Projects (ACWA Power) opened books on a conventional amortising note on Tuesday, as Saudi Electricity Co (Seco) and Oman Electricity Transmission line up sukuk trades.
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Three banks have joined the syndication of a loan to Oman's Bank Sohar of $250m, which Bank ABC has been mandated to co-ordinate.
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Bank Muscat has successfully completed its $525m syndicated loan refinancing, adding to Oman’s accumulating loan book.
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Oman’s sovereign wealth fund, which is accessing Asian liquidity for a $600m acquisition loan, has bagged commitments from Taiwanese banks.
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Even as some investors fretted about Oman’s economic welfare, a stampede of orders into the country's $5bn triple tranche deal on Wednesday augured well for the hefty sovereign issuance to come from Gulf sovereigns this year — the next of which has a bigger deal to do and arguably a better tale to tell in the process, one it will tell next week. Lucy Fitzgeorge-Parker and Virginia Furness report.
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Concerns about rising public debt levels in Oman failed to deter bond buyers on Wednesday as the Gulf sovereign amassed $20bn of orders for its triple tranche dollar market return.
