Oman starts marketing two-part dollar bond issuance

Oman starts marketing two-part dollar bond issuance

DUBAI- Oman has started marketing a two-part U.S. dollar bond issuance comprising seven- and 12-year bonds, according to a document seen by Reuters, in the Gulf state's first international bond issue this year.The document, issued by one of the banks leading the deal, showed Oman is marketing the seven-year paper in the 7% area and the 12-year paper in the 7.625% area."These are quite wide as compared to the existing Oman sovereign curve where seven and 12-year yields are around 6.25% and 7.2%," a fixed income strategist said, adding he expected Oman to tighten both tranches.Oman had also announced plans on Monday to issue a three-year tranche. A banking source said there was likely not enough interest in the three-year tranche and a fund manager said Oman already has high debt