Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Oman on 18 January signed a $1bn loan agreement with several international banks to partly finance the OR3.3bn ($8.6bn) deficit in the country’s 2016 budget. Lead managers were Citigroup, Gulf International Bank and Natixis.
Oman started marketing the five-year loan in November at a margin of 110 basis points over Libor. But it had to raise this margin to 120 basis points as investors demanded a higher return following the downgrading of Oman by rating agency S&P, according to Nasir al-Jashmi, Undersecretary at the Ministry of Finance. The loan was oversubscribed to the tune of $1.28bn, reflecting overseas interest in the sovereign.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE