Oman to raise OMR200 million in bond issue

Muscat: The Central Bank of Oman (CBO) will announce on Sunday the new Issue of Government Development Bonds (GDB).
The size of the new issue is fixed at OMR200 million with a maturity period of 10 years and will carry a coupon rate of 5.75 per cent per annum.
The issue will be open for subscription on December 15 until December 23, 2019, while the auction will be held on Tuesday, December 24, 2019. The issue settlement date will be on Thursday, December 26, 2019.
Interest on the new bonds will be paid semiannually on June 26 and December 26, every year until maturity date on December 26, 2029.
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 of OMR1 million and above may if they so wish to 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 the Sultanate, or through CBO official website (www.cbo.gov.om).
The bonds are direct and unconditional obligations of the Government of Sultanate. The bonds 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).