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Markets News

Oman's bonds lifted by peaceful power transition after Sultan's death

LONDON, Jan 13 (Reuters) - Oman’s dollar-denominated bonds climbed as much 1.5 cents on Monday as investors welcomed a smooth transition of power following the death of Sultan Qaboos bin Said who had ruled the country for half a century.

Qaboos, one of the Middle East’s longest-serving rulers who maintained the country’s neutrality in a turbulent region, died on Friday and his cousin Haitham bin Tariq al-Said was named as his successor.

Oman’s 2047 and 2048-maturing bonds rose between 1.3 and 1.5 cents in European trading, while its shorter-term 2026 and 2028-maturing bonds rose 0.4-0.6 cents.

Reporting by Marc Jones; Editing by Ritvik Carvalho

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