Corporate Debt Restructuring Masterclass

18 July 2022 (Mon), 5pm Singapore/HK time

Oman announced a tender offer to buyback for cash, up to $1.75bn of eight its dollar bonds without accrued interest. The bonds to be tendered are the following:

  • $1.25bn 4.875% 2025s
  • $2.5bn 4.75% 2026s
  • $2bn 5.375% 2027s
  • $1.45bn 6.75% 2027s
  • $2.5bn 5.625% 2028s
  • $2.25bn 6% 2029s
  • $1.75bn 6.25% 2031s
  • $1.05bn 7.375% 2032s

HSBC, Goldman Sachs and Citi are the dealer managers for the tender offer. The last day for competitive and non-competitive tender instructions is June 28 with the auction taking place as a Modified Dutch auction. The purchase prices are yet to be determined. It said that the offer was part of its proactive debt strategy. This comes after Oman’s state general budget registered a 27% YoY growth in its revenue to OMR 11.1bn ($29bn) alongside a sharp increase in oil revenues by 52% in 2021.

Oman’s dollar bonds were trading higher with its 4.75% 2026s up over 0.59 points to 95.81 yielding 5.95%.

For the full story, click here

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