And Just Like That, #Oman's Bond Yields Are Back Below #Bahrain's - Bloomberg

And Just Like That, Oman's Bond Yields Are Back Below Bahrain's - Bloomberg:

The hefty premium investors demanded to hold Oman’s Eurobonds rather than those of lower-rated Bahrain has just vanished.

The sultanate’s plans to slash its borrowing requirements and rely on asset sales for funding lifted Eurobonds due 2028 by the most on record, driving the yield down 37 basis points to 6.43 percent as of 8:42 a.m. in London. Bahrain’s similar-maturity debt now yields one basis point more than Oman’s, according to data compiled by Bloomberg.

Oman, which has one of the largest budget deficits among oil exporters, will also tap a $1.2 billion loan backed by the World Bank’s Multilateral Investment Guarantee Agency, and any additional funding will come through domestic borrowing, a senior government official said on condition of anonymity because the plans haven’t been made public.