Oman's Bank Muscat To Price $500m Bond
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Oman’s Bank Muscat To Price $500m Bond

Oman’s Bank Muscat To Price $500m Bond

Despite attracting more than $2.5 billion of demand so far the size of the bond will not be increased.

Gulf Business

Bank Muscat, Oman’s largest lender, will sell a $500 million five-year bond on Tuesday, lead managers said, with pricing guidance tightened as demand for the issue has been healthy.

The issue had attracted more than $2.5 billion of demand so far, although the size of the bond will not be increased, the document said. Order books will close at 0930 GMT.

At current guidance, the bond will price at 175 basis points over midswaps or 5 basis points either side of that mark. This is tighter than the 187.5 bps area indicated on Monday.

Bank Muscat chose Citigroup, Credit Agricole , Deutsche Bank, HSBC, National Bank of Abu Dhabi and Standard Chartered to arrange the bond, which will be its first issue denominated in U.S. dollars since 2004.


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