CBO launches RO150mn govt development bonds

August 20, 2017

The Central Bank of Oman (CBO) announced a new issue of government development bonds. 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 semi-annually 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 Oman.

The bonds are direct and unconditional obligations of the sultanate’s government and can be used as collateral to obtain loans from any local commercial bank.