Oman

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.

A juicy Middle Eastern project finance loan — for Oman Oil Refineries and Petroleum Industries Company (Orpic) — will be signed by end of next week, according to a banker close to the deal.

Oman Telecoms (Omantel) sold a $130m-equivalent sukuk via auction in the domestic market on Wednesday. Though the issuer could have achieved tighter pricing in the loan market, it wanted to aid the development of the sukuk market in Oman, said bankers.

The Sultanate of Oman, having returned to the debt market for a $1bn five year loan, has named the banks in the deal's syndicate.

The Sultanate of Oman signed a $1bn five year loan on Tuesday, with 11 banks in the oversubscribed deal, despite the sovereign being hit by a downgrade in the middle of the deal.

BankDhofar of Oman has followed the recent rush of Middle Eastern banks to the loan market for funding and signed a $250m three year club loan with six banks.

Oman Telecommunications has mandated three banks to arrange investor meetings for a Reg S only dollar and/or Omani rial sukuk.

Lenders are piling into a $4bn project loan for Oman's Liwa Plastics Industries, lured in by a juicy margin of around 250bp, according to a banker involved in the deal.