Oman- CBO launches RO150mn development bonds

(MENAFN- Muscat Daily) Muscat- The Central Bank of Oman (CBO) on Tuesday announced the new issue (No 54) of the government development bonds (GDBs). The size of the new issue is fixed at RO150mn with a maturity period of ten years and will carry a coupon rate of 5.75 per cent per annum.

The issue will be open for subscription from September 10 to September 14 while the auction will be held on September 17, according to an Oman News Agency report.

The issue settlement date will be on September 20. Interest on the new bonds will be paid semiannually on March 20 and September 20 every year until maturity date on September 20, 2027.

Investors may apply for these bonds through the competitive bidding process only. Investors may submit bids through commercial licensed banks operating in the sultanate.

Investors with applications worth RO1mn and more may submit their bids directly to the CBO after getting them endorsed from their banks. Prospectus and application forms for the bonds can be obtained from any commercial licensed bank operating in Oman or through the CBO's official website.

The bonds are direct and unconditional obligations of Oman's government and can be used as collateral to obtain loans from any local commercial licensed bank. The bonds can also be traded at prevailing market rates through the Muscat Securities Market (MSM).

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