Commentary & Deal Flow

The Government of the Sultanate of Oman represented by the Ministry of Finance (OMAN) exp Ba3/NR/BB- US$500m (no grow) tap of 144A/Reg S 7s/12s 2-part (tap of 6.75% 10/28/27s - $1.25bn outstanding, and tap of 7.375% 10/28/32s - $750m outstanding). Citi/HSBC/NATIXIS/Stan Chart as Joint Lead Managers and Joint Bookrunners. Under the Government's Global Medium Term Note Programme. FCA/ICMA stabilisation applies. Pricing today. Settle 12/1 (T+5). Immediately fungible with the original notes.

IPTs: 2027s 6.60% area, 2032s 7.375% area.

GUIDANCE: 2027 tap 6.45% area, 2032 tap 7.05% area. Combined books in excess of USD 1.5bn (no notable skew). Global books to go subject 09.00 NYT / 14.00 LDN / 18.00 DXB / 21.00 HK.

LAUNCHED:
$200m tap of 2027s at 6.30%.
$300m tap of 2032s at 6.90%.
Combined books in excess of USD 3.0bn (no notable skew).
Global books are subject.