DEBT FINANCING ADVISER NEEDED BYOMAN AVIATION FOR MULTI-BILLION FINANCING

(Reuters)Oman Aviation Group, a government entity in charge of investments in the country’s civil aviation sector, is seeking an adviser for debt financing of around $5 billion, two sources familiar with the matter said.

The planned financing, spread across the next few years, would come as Oman – which is less wealthy than its oil-rich Gulf neighbours – increasingly relies on borrowing to offset a widening budget deficit caused by a slump in oil prices.

The government aviation entity, which includes the country’s national carrier Oman Air, has sent a request for proposals to banks seeking an adviser on a financing programme of about 1.9 billion Omani rials ($4.94 billion) spread across the next few years, said the sources.

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