DUBAI: Bank Muscat sold $500 million in five-year bonds on Wednesday at 4.75% after receiving more than $1.6 billion in orders for the debt sale, a document showed.

It had given initial price guidance of between 5% and 5.125% for the bonds, another document also from one of the banks on the deal showed.

Bank ABC, Bank Muscat, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, Mizuho, MUFG and Standard Chartered arranged the deal.