Oman

The $3bn inaugural loan for Petroleum Development Oman will be the first of many, as the country’s sovereign and corporates head to international debt markets, according to market participants.

Banks have to make their pitches for the $3bn loan for Petroleum Development Oman by Thursday, according to the CEO of HSBC Oman.

Quasi-state owned Petroleum Development Oman is reaching out to banks for a $3bn club loan, and asking for chunky tickets of $300m each, according to sources.

Bank Muscat printed its $500m five year bond from a $1.4bn book on Monday, offering a new issue premium of around 10bp-15bp for the deal, according to the lead managers.

Oman's ministry of finance has signed a $2bn syndicated loan to buy aircraft from the UK’s BAE Systems, according to a banker on the deal, as the country prepares to launch its first international bond.

Bank Muscat has released initial price thoughts for its benchmark five year bond, equating to a new issue premium of around 35bp.

Oman has picked banks for its debut international bond three months after signing its first loan.

Bank Muscat has mandated eight banks for a Reg S dollar benchmark bond.

State-owned Majan Electricity Company is syndicating an Omani riyal and dollar denominated loan, according to bankers.

A swathe of ratings downgrades. one of which prompted Bahrain to first cancel a tap and then reprint it this week at a higher yield, is just one factor that will force Middle East sovereigns to pay up for bond funding just when they need it the most, writes Virginia Furness.

Oman Telecoms (Omantel) is withdrawing a $130m dual currency sukuk it issued on January 27, two sources have told GlobalCapital.

The head of Oman’s central bank has called for his country's borrowers to embrace capital market funding, with the sovereign widely expected to lead the charge itself with a large bond or sukuk.