March 1, 2017 / 3:00 PM / 9 months ago

Oman launches triple-tranche US dollar trade

LONDON, March 1 (IFR) - The Government of the Sultanate of Oman, acting through the Ministry of Finance, has launched a US$5bn triple-tranche US dollar bond offering, according to a lead.

The issuer has launched a US$1bn five-year deal at 190bp over mid-swaps. The notes were initially marketed at 215bp area over, with guidance set at 205bp area over.

A US$2bn 10-year bond has been launched at plus 300bp. That compares to initial price thoughts of plus 325bp area, and guidance at plus 310bp area.

A US$2bn 30-year bond has been launched at plus 387.5bp. The notes were marketed at plus 425bp area and guidance was set at 410bp area.

Books were over US$19.5bn, and skewed towards the 10 and 30-year bonds.

Allocations and pricing this afternoon via Bank Muscat, Citigroup, Deutsche Bank, HSBC, ICBC Standard Bank, JP Morgan, Societe Generale and Standard Chartered.

Oman is rated Baa1/BBB-/BBB. (Reporting by Robert Hogg; editing by Sudip Roy)

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