Oman raised $5bn from a 1 March international bond issue which was four times oversubscribed. As such it is close to completing its entire foreign borrowing plan for 2017 necessary to cover its expected budget deficit.

The issue consisted of three tranches: a five-year tranche of $1bn at a 190 basis point (1.9 percentage point) premium to the Libor mid-swaps rate, 10-year of $2bn at +300 bps, and 30-year of $2bn at +387.5 bps.

The high turnout reflects the confidence of international...