Oman is said to be in talks to refinance a $2.2bn loan it took in February 2021 and aims to increase the size to $3-4bn, as per two sources. Oman initially sought to raise up to $1bn with last year’s loan but more than doubled its size due to strong appetite from banks, as per Zawya. While the initial loan in February has a 15-month tenor with a one-year extension option, Oman plans to refinance it early with better terms. The new refinancing terms are said to be at LIBOR+350bp vs. LIBOR+375/390bp for the initial loan. Oman’s outlook was recently revised to stable from negative by Fitch and prior to that by Moody’s while S&P revised it to positive from stable.
Oman’s dollar bonds are trading slightly higher with its 5.625% 2028s up 0.5 points to 103.86, yielding 4.87%
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