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Thursday, 2 March 2017

MIDEAST DEBT-Oman gains breathing space with jumbo $5 billion bond sale | Reuters

MIDEAST DEBT-Oman gains breathing space with jumbo $5 billion bond sale | Reuters:

"Oman's government has given itself breathing space from the pressure of financing a large budget deficit by selling $5 billion of international bonds, almost completing its entire foreign borrowing plan for 2017 in a single issue.

Wednesday's bond sale, in tranches of five, 10 and 30 years, was about double the size that most investors had expected and a huge amount for a country which returned to the international bond market in 2016 after an absence of two decades.

Order books for the issue totalled $20 billion, bankers said, showing that though Oman is among the financially weakest oil exporters in the Gulf, it can for now count on strong international demand for its high-yielding debt."



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