Arab.net
Today, Wednesday, Omani Minister of Labor Mahad bin Saeed Baouin discussed plans to replace foreign workers with Omani citizens in government-run companies, according to the official Oman News Agency.
The minister discussed those plans, which include a program to assign citizens to leadership positions, with the Oman Investment Authority and heads of companies run by the government.
A document reviewed by Reuters showed that the Sultanate of Oman began marketing the issuance of dollar bonds in two tranches consisting of bonds for seven years and 12 years, which is the first international bond issuance for the Gulf state this year.
The document issued by one of the banks leading the process reveals that Oman markets seven-year bonds in the 7% range, and 12-year bonds in the 7.625% range.
“This is a very wide range compared to the existing sovereign curve of Oman, where the yield on seven-year and 12-year bonds is about 6.25 and 7.2 percent,” said an expert in fixed income instruments.
He added that he expected Oman to reduce the scope of the two tranches.
On Monday, Oman announced plans to issue a three-year tranche.
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