Oman

Oman released initial price thoughts on Wednesday morning for new five and 10 year notes and evidence suggests the deal was building well.

The Sultunate of Oman is starting the roadshow for its dollar benchmark 144A/Reg S bond on Thursday.

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.

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.

Petroleum Development Oman is bringing in more banks after first launching its debut loan as a club deal with a small group of lenders.

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.

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.

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.

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.