Oman
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Petroleum Development Oman (PDO) is leading a run of deals in the market from the sultanate, with the borrower said to be close to completing a loan of more than $3bn. -
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Oman successfully pinned down $2.5bn of funding through a dual tranche note this week, even as Saudi Arabia’s gargantuan bond creeps closer.
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Oman has released final price guidance for its dual tranche note with order books in excess of $7bn.
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Oman released initial price thoughts on Wednesday morning for new five and 10 year notes and evidence suggests the deal was building well.
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The Sultunate of Oman is starting the roadshow for its dollar benchmark 144A/Reg S bond on Thursday.
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Loan issuance from Omani borrowers, some of them debut deals, is in full flow and demand from international investors holds strong despite Oman’s recent downgrade.
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Petroleum Development Oman is holding a bank meeting in London on Friday to liaise with new banks which could be interested in its $3bn loan.
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Petroleum Development Oman is bringing in more banks after first launching its debut loan as a club deal with a small group of lenders.
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Omani electricity firm Majan Electricity Company has secured a $350m loan, according to two bankers, and sister company Dhofar Power Company is close behind with another deal.
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Bank Muscat signed its $315m club loan late on Monday and all, barring one, of the lenders also arranged the bank’s bond issue last month.
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Oman’s Bank Muscat is in the process of signing a club loan of about $300m, according to one banker who was invited to join.
