by Amruth Sundarkumar | Dec 21, 2022 | Sovereign Bonds, Sovereigns
Oman is expecting to see an OMR 1.3bn ($3.4bn) budget deficit in 2023, equivalent to about 3% of GDP after seeing an expected surplus this year thanks to higher oil prices. Oman expects revenues of OMR 11.7bn ($30.4bn) and expenditures to be at OMR 13bn ($33.8bn) next...
by Amruth Sundarkumar | Nov 28, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Oman was upgraded to BB from BB- by S&P upon the nation’s fiscal and external positions “benefiting from government reforms and higher oil prices”. The government has reduced reliance on oil receipts to its budget, inline with its medium-term...
by Amruth Sundarkumar | Jul 22, 2022 | Investment Grade Bonds
Issuers from the Middle East are said to have lined up bond deals, awaiting a favourable window to launch. The list includes the Kingdom of Saudi Arabia, Saudi’s sovereign wealth fund PIF, Qatar, ADNOC, the EIG-led consortium in Aramco’s pipeline...
by Amruth Sundarkumar | Jun 23, 2022 | Financial News
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...
by Amruth Sundarkumar | Apr 8, 2022 | Sovereign Bonds, Sovereigns
Oman’s public revenue stood at OMR 1.92bn ($4.98bn) and net oil revenues at OMR 1.1bn ($2.9bn) at the end of February 2022, up by 76% and 81% YoY respectively. Its revenue and budget surplus surged from oil prices shooting up and a higher tax collection. For the first...
