Oman
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Renewables pair bring sunshine to project finance market - National Bank of Oman launches loan syndication - Cubico lights up project finance desks - Drax completes bridge refinancing with PPs, ESG debt - Italy’s IMA raises €50m via Euro PP market
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Oman came to market on Thursday for a pair of dollar benchmarks, offering initial price thoughts onlookers described as "generous" and gathering a large order book ahead of the opening of the New York market.
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The National Bank of Oman (NBO) has mandated two local lenders to arrange a term loan. The deal comes amid a brief capital markets flurry in Oman, despite a tumultuous period for the cash-strapped Sultanate, which has seen its ratings downgraded. -
Oman is set to return to the bond market for the first time in nine months this week. The sovereign has picked banks for five and 10 year dollar benchmarks.
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Acciona nabs €155m from green Schuldschein - Places for People seals €150m private placement - Germany’s Badenova sells Schuldschein - Pershing Square nabs $400m in bond private placement - Claranova debuts in euro PP market - Pension Insurance Corp puts £40m into Scottish housing association - Oman's Octal raises $625m for expansion
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Oman-based Octal, a leading producer of plastic packaging, has raised loans to the value of $625m from a range of local and international lenders
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Oman, one of the most fiscally challenged sovereigns in the Gulf, is set to raise a $2.85bn commodity linked pre-payment facility. Natixis and Société Générale are expected to lead the transaction, according to bankers.
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Bank Muscat's Islamic banking arm, Meethaq, has requested proposals from banks for its debut loan syndication.
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Bankers are confident that Oman can overcome the obstacles in the way of its borrowing capabilities, namely a large fiscal deficit and speculative grade ratings, in order to raise financing from international lenders.
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Middle Eastern borrowers are returning to the market in droves, picking up where they left off in September and making up for an underwhelming start to October.
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Two Middle Eastern borrowers printed seven year sukuk dollar benchmarks on Wednesday, restarting the market after a few weeks of flagging issuance.
