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By Sudip Roy
LONDON, June 8 (IFR) - The Sultanate of Oman is poised to raise US$2.5bn after launching five and 10-year bonds, according to a lead.
A US$1bn five-year note will price at 245bp over mid-swaps, while a US$1.5bn 10-year tranche has launched at plus 320bp.
Earlier, the sovereign was marketing the five-year note at plus 250bp area and the 10-year tranche at plus 325bp area. Both bonds had price ranges of plus or minus 5bp.
That followed price guidance of plus 262.5bp area on the five-year tranche and at plus 337.5bp area on the 10-year note.
Initial price thoughts were mid-to-high 200s over mid-swaps and plus mid-300s, respectively.
Citigroup, JP Morgan, Mitsubishi UFG, National Bank of Abu Dhabi and Natixis are running the 144A/Reg S trade, which will price later today.
Oman is rated Baa1 by Moody's and BBB- by Standard & Poor's.
(Reporting by Sudip Roy; Editing by Philip Wright) ((sudip.roy@thomsonreuters.com; +44 20 7542 4617; Reuters Messaging: sudip.roy.thomsonreuters.com@reuters.net))
LONDON, June 8 (IFR) - The Sultanate of Oman is poised to raise US$2.5bn after launching five and 10-year bonds, according to a lead.
A US$1bn five-year note will price at 245bp over mid-swaps, while a US$1.5bn 10-year tranche has launched at plus 320bp.
Earlier, the sovereign was marketing the five-year note at plus 250bp area and the 10-year tranche at plus 325bp area. Both bonds had price ranges of plus or minus 5bp.
That followed price guidance of plus 262.5bp area on the five-year tranche and at plus 337.5bp area on the 10-year note.
Initial price thoughts were mid-to-high 200s over mid-swaps and plus mid-300s, respectively.
Citigroup, JP Morgan, Mitsubishi UFG, National Bank of Abu Dhabi and Natixis are running the 144A/Reg S trade, which will price later today.
Oman is rated Baa1 by Moody's and BBB- by Standard & Poor's.
(Reporting by Sudip Roy; Editing by Philip Wright) ((sudip.roy@thomsonreuters.com; +44 20 7542 4617; Reuters Messaging: sudip.roy.thomsonreuters.com@reuters.net))
