Arab Today, arab today bank muscat launches 500m bond
Last Updated : GMT 01:44:06
Arab Today, arab today
Arab Today, arab today

Bank Muscat launches $500m bond

Arab Today, arab today

Arab Today, arab today Bank Muscat launches $500m bond

Muscat - Arabstoday

Bank Muscat, Oman\'s largest lender, will sell a $500 million five-year bond on Tuesday in its first dollar debt issue in nine years, with strong demand allowing the deal to launch at among the lowest borrowing costs available to it. The bond issue is the latest means deployed by the Omani lender to raise funding. Earlier this year, the company secured a $200 million equity investment from the International Finance Corporation in a private placement. Prior to that, in August, it raised RO96.7 million ($251.2 million) from an oversubscribed rights issue. The bond, which is the first dollar-denominated issue from Bank Muscat since 2004, launched at a spread of 170 basis points over five-year midswaps. Final guidance released earlier in the day had indicated the issue would price between 170 and 180 basis points over midswaps, tighter than the 187.5 bps area indicated on Monday. Order books for the deal totalled more than $2.5 billion before they were closed at 0930 GMT, arranging banks said. The bond is a rare international debt sale from the sultanate, but traders said the issuer, rated A- by Standard & Poor\'s, should be compared with other large Gulf banks in which the state holds a significant stake. The government owns a 25 per cent stake in Bank Muscat, which expects its credit growth to be around 14 to 15 per cent this year, driven by high government spending and higher wages for local citizens. The bank said proceeds of the bond would be used for general financing purposes and gave no further detail. Citigroup, Credit Agricole, Deutsche Bank , HSBC, National Bank of Abu Dhabi and Standard Chartered are arranging the sale, which will fall under the lender\'s $800 million EMTN programme. TIME OF OMAN

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank muscat launches 500m bond Arab Today, arab today bank muscat launches 500m bond

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank muscat launches 500m bond Arab Today, arab today bank muscat launches 500m bond

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday