Oman’s Bank Muscat may price 5-year benchmark bond on Monday

26/04/2016 05:49 AST

Bank Muscat, Oman’s largest lender, has set initial price thoughts for a dollar-denominated bond of benchmark size and five years duration, which it could price as early as Monday, a document from lead arrangers showed.

Initial price guidance for the bond has been set in the area of 275 basis points over midswaps, the document showed.

Benchmark size is traditionally understood to mean upwards of $500 million. The Omani lender, rated BBB plus by Fitch and A3 by Moody’s, has mandated itself as well as Bank ABC, Citi, Credit Agricole, HSBC, Mitsubishi UFJ Financial, National Bank of Abu Dhabi and Standard Chartered as arrangers for the transaction.


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