Oman
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Deal 'steady' despite investor caution over tightening levels
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The issuers are diverse and will not cannibalise demand, said one banker
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A market wobble in October meant the telecoms company postponed issuance
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Dubai Taxi's $330m IPO was over 130 times covered with $41bn of orders, despite heightened tension in the region
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OQGN listing marked an important milestone for country’s privatisation initiative and ECM expansion plans
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EM pipeline keeps flowing in face of US Treasury volatility
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Investors have not had a chance to buy a new bond or sukuk from Oman for more than two years
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Lack of bonds and sukuk from Oman should create high demand, said one observer
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The Middle East's IPO market is heating up again after a lull this year
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Adnoc Gas and Abraj Energy surge in early trading as global equities plummet
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OQ's oil drilling unit was Oman's biggest listing since 2010
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OQ's oil drilling business Abraj Energy aims for $500m valuation
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Oman's OQ launched the flotation of its oil drilling business, Saudi regulators approved IPO of TAM Development
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Issuance from the Gulf is coming to an end this year but volumes may surge in 2023
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Omani bank plans to raise $424m to fund growth
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The Omani lender Bank Dhofar has secured a loan facility from a consortium of international banks, in a deal led by two regional lenders.
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A brace of sukuk trades from the Gulf this week racked up enormous order books, demonstrating the voracious demand for Sharia-compliant paper. With a hungry investor base, sukuk issuance is expected to grow, despite some "teething problems".
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The Sultanate of Oman launched a dollar sukuk on Tuesday, which investors said would receive strong demand as investors hunt for high yielding Sharia-compliant paper.
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The Sultanate of Oman, one of only two sub-investment grade credits in the Gulf, is set to sell a sukuk. The government is seeking the dollar-denominated debt months after it last entered both the bond and syndicated loan markets to bolster its financial capacity.
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Market participants rejoiced this week as the primary market landscape returned to normal after US Treasury yield volatility subsided and a number of deals, both investment grade and high yield, came to the market.
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Omani state-owned oil company, OQ, has mandated banks to arrange a dollar bond offering, in what is likely to be a test of investor appetite for both high yield and oil credits.
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Oman's Bank Muscat this week returned to debt markets after a brief hiatus to sell a dollar bond. The deal was one of only a few across CEEMEA this week, as market participants say interest rate volatility is still deterring issuance.
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Oman Electricity Transmission Company, a partially state-owned utility company, entered the market on Wednesday for a dollar bond, just two weeks after the high yielding sovereign raised a dollar offering.
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Junk-rated emerging market sovereigns Benin and Oman sold bonds this week, with market participants saying their new issue premiums were minimal. However, bankers think total activity across CEEMEA over the last two weeks has been “underwhelming”.
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The Sultanate of Oman's return to debt markets is proof to some that the market is wide open for high yielding emerging market issuers. The sovereign mandated banks for a dollar deal as investors, hunting for yield, appear undeterred by volatility in the US rates market.
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Oman, one of only two sub-investment grade sovereign credits in the Gulf region, tapped two of its dollar bonds for $500m this week as it seeks to shore up state finances.
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Three borrowers in the Middle East are set to come to market for dollar benchmarks this week with a sudden rush of mandate announcements after a quiet few weeks in the region's debt capital markets.
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Oman, one of only two junk-rated sovereigns in the Gulf region, is tapping lenders for up to $2bn, as some say it could not find the right conditions in the bond market. According to bankers familiar with the deal, credit risk considerations are foremost and the sovereign will have to pay up to borrow.
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Oman’s Bank Muscat, which is part-owned by the Sultanate of Oman, raised a $650m loan from international lenders. The loan was announced amid Moody's downgrading the bank and the Omani sovereign, the latest in a string of rating actions that have pushed the challenged Gulf nation into junk territory.
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Omani gas transportation company, Oman Gas Co, a branch of state-owned Oman Oil Co, has sold an $800m credit facility to local lenders.
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The National Bank of Oman (NBO) has closed a $300m syndicated loan, arranged by regional lenders. The loan was oversubscribed, revealing a reasonable amount of international demand for Omani debt despite a year of ratings downgrades and project postponements.
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A pair of Middle Eastern credits received large orders for what may be among the last bonds issued before the summer lull.