Oman (Government of Sultanate of) Final Results of Tender Offer (7193Q)

TIDM35NP

RNS Number : 7193Q

Oman (Government of Sultanate of)

29 June 2022

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 ("MAR") AND ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

THE GOVERNMENT OF THE SULTANATE OF OMAN

represented by

THE MINISTRY OF FINANCE

(the "Issuer")

29 June 2022

THE ISSUER ANNOUNCES FINAL ACCEPTANCE AMOUNT, SERIES ACCEPTANCE AMOUNTS AND PRICING FOR THE PURPOSES OF ITS TER OFFERS FOR EACH OF ITS OUTSTANDING:

   (i)         U.S.$1,250,000,000 4.875 PER CENT. NOTES DUE 2025 (THE "2025 NOTES") (XS1944412664/US68205LAA17/68205LAA1) ; 
   (ii)        U.S.$2,500,000,000 4.750 PER CENT. NOTES DUE 2026 (THE "2026 NOTES") (XS1405777589/US682051AC17/682051AC1) ; 
   (iii)       U.S.$2,000,000,000 5.375 PER CENT. NOTES DUE MARCH 2027 (THE "MARCH 2027 NOTES") (XS1575967218/US682051AE72/682051AE7) ; 
   (iv)       U.S.$1,450,000,000 6.750 PER CENT. NOTES DUE OCTOBER 2027 (THE "OCTOBER 2027 NOTES") (XS2234859101/US68205LAD55/68205LAD5) ; 
   (v)        U.S.$2,500,000,000 5.625 PER CENT. NOTES DUE 2028 (THE "2028 NOTES") (XS1750113661/US682051AH04/682051AH0) ; 
   (vi)       U.S.$2,250,000,000 6.000 PER CENT. NOTES DUE 2029 (THE "2029 NOTES") (XS1944412748/US68205LAB99/68205LAB9) ; 
   (vii)      U.S.$1,750,000,000 6.250 PER CENT. NOTES DUE 2031 (THE "2031 NOTES") (XS2288905370/US68205LAS25/68205LAS2) ; AND 
   (viii)     U.S.$1,050,000,000 7.375 PER CENT. NOTES DUE 2032 (THE "2032 NOTES") (XS2234859283/US68205LAE39/68205LAE3) . 

The aforementioned Series of Notes are collectively referred to as the "Notes".

Further to its announcements on 22 June 2022 and 29 June 2022, the Issuer now announces the final results and pricing for the purposes of its invitations to eligible holders of the Notes (each, an "Offer" and, together, the "Offers").

The Offers were made on the terms and subject to the conditions set out in the Offeror's Tender Offer Memorandum dated 22 June 2022 (the "Tender Offer Memorandum").

Copies of the Tender Offer Memorandum are available from the Information and Tender Agent as set out below. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

Final Results

The Issuer intends to accept for purchase U.S.$701,076,000 in aggregate nominal amount of the Notes, subject to satisfaction or waiver of the Conditions to the Offer on or prior to the Settlement Date.

   (1)        In respect of the 2025 Notes, U.S.$100,844,000. 
   (2)        In respect of the 2026 Notes, U.S.$113,502,000. 
   (3)        In respect of the March 2027 Notes, U.S.$71,207,000. 
   (4)        In respect of the October 2027 Notes, U.S.$80,823,000. 
   (5)        In respect of the 2028 Notes, U.S.$115,760,000. 
   (6)        In respect of the 2029 Notes, U.S.$78,432,000. 
   (7)        In respect of the 2031 Notes, U.S.$112,965,000. 
   (8)        In respect of the 2032 Notes, U.S.$27,543,000. 

A summary of the final pricing of the Notes appears below:

 
                                Benchmark                                                     Series 
                  Clearing       Security       Purchase       Scaling        Purchase      Acceptance      Accrued 
   S eries         Spread          Rate          Yield          Factor         Price          Amount        Interest 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
  t he 2025      +210 basis       3.193%         5.293%          N/A        U.S.$990.01    U.S.$100,844    U.S.$20.31 
    Notes          points                                                       per            ,000           per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
   the 2026      +240 basis       3.211%         5.611%          N/A        U.S.$969.81    U.S.$113,502    U.S.$2.11 
    Notes          points                                                       per            ,000           per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
  the March      +250 basis       3.211%         5.711%          N/A        U.S.$986.27    U.S.$71,207,    U.S.$16.87 
  2027 Notes       points                                                       per            000            per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
 the October     +270 basis       3.211%         5.911%          N/A        U.S.$1,037.7   U.S.$80,823,    U.S.$11.81 
  2027 Notes       points                                                      4 per           000            per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
   the 2028      +280 basis       3.211%         6.011%          N/A        U.S.$982.04    U.S.$115,760    U.S.$25.63 
    Notes          points                                                       per            ,000           per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
   the 2029      +300 basis       3.140%         6.140%          N/A        U.S.$991.99    U.S.$78,432,    U.S.$25.00 
    Notes          points                                                       per            000            per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
   the 2031      +315 basis       3.140%         6.290%          N/A        U.S.$997.33    U.S.$112,965    U.S.$27.08 
    Notes          points                                                       per            ,000           per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
   the 2032      +355 basis       3.140%         6.690%          N/A        U.S.$1,050.3   U.S.$27,543,    U.S.$12.91 
    Notes          points                                                      5 per           000            per 
                                                                             U.S.$1,000                    U.S.$1,000 
                                                                            in principal                  in principal 
                                                                               amount                        amount 
-------------  -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
 

The expected Settlement Date is 1 July 2022.

   *     *     * 

Citigroup Global Markets Limited, Goldman Sachs International and HSBC Bank plc have been appointed by the Issuer to serve as dealer managers for the Offer. Citibank, N.A., London Branch (the "Tender Agent") has been appointed by the Issuer to act as the tender agent in connection with the Offer.

For additional information regarding the terms of the Offer, please contact Citigroup Global Markets Limited by email at [e-mail] or by telephone at [phone], Goldman Sachs International by email at Liabilitymanagement [e-mail] or by telephone at [phone] and HSBC Bank plc by email at [e-mail] or by telephone at [phone]. Requests for documents and questions regarding the tender of Notes may be directed to Citibank N.A., London Branch via email: [e-mail] or telephone: [phone].

   *     *     * 

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Offers. If you are in any doubt as to the contents of this announcement or the Tender Offer Memorandum or the action you should take, you are recommended to seek your own financial and legal advice, including as to any tax consequences, immediately from your stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact such entity if it wishes to participate in the Offers. None of the Dealer Managers, the Information and Tender Agent or the Offeror makes any recommendation as to whether Noteholders should tender Notes for purchase pursuant to the Offers.

The Tender Offer Memorandum does not constitute an invitation to participate in the Offers in any jurisdiction in which, or to any person to, or from, whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws. The distribution of the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession the Tender Offer Memorandum comes are required by each of the Issuer, the Dealer Managers and the Information and Tender Agent to inform themselves about and to observe any such restrictions.

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June 30, 2022 04:58 ET (08:58 GMT)