Oman to target $3-$4 billion with upcoming bond sale - sources | Reuters:
Oman plans to issue U.S. dollar-denominated bonds soon, targeting $3 billion to $4 billion with the deal, two sources said, as the Gulf state seeks to bolster finances badly hit by a slump in oil prices.
The deal would cover a $2 billion bridge loan Oman secured last month and give it additional funding in what would be Oman’s first foray in the international bond market this year.
A relatively small crude producer burdened by high levels of debt, Oman - rated “junk” by all major rating agencies - said this month it was planning to tap local and international debt markets, without disclosing how much it plans to raise from overseas investors.
The bonds will be arranged by some of the banks that provided the $2 billion bridge loan, said the two sources familiar with the matter, speaking on condition of anonymity.
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