Central Bank of Oman to Launch Government Development Bonds

Central Bank of Oman (CBO) announced the 51st issue of Government Development Bonds. The size of the new issue is fixed at Omani Riyal (RO) 150 Million with a maturity period of 10 years and will carry a coupon rate of 5.5% p.a.

    The issue will be open for subscription from 11th to 18th December, 2016 while the auction will be held on Wednesday, 21st December 2016. The issue settlement date will be on Tuesday 27th December, 2016. Interest on the new bonds will be paid semiannually on 27th June and 27th December, every year until maturity date on 27th December 2026.

    Investors may apply for these Bonds through the competitive bidding process only. Investors may submit bids through commercial licensed banks operating in Oman. Investors with applications of RO 1 Million and above can, if they so wish may submit their bids directly to CBO after getting them endorsed from their banks. Prospectus and application forms can be obtained from any commercial licensed bank operating in Oman.

    The Bonds are direct and unconditional obligations of the Government of Sultanate of Oman. The Bonds can be used as collateral to obtain loans from any local commercial licensed bank.