Muscat: A fresh issue of Government development bonds worth OMR150 million was announced by the Central Bank of Oman (CBO)
With a maturity period of 7 years it will carry a coupon rate of 5 per cent per annum. The issue will be open for subscription from February 5 to 12, while the auction will be held on February 14. The issue settlement date will be on February 20.
Interest will be paid semi annually on August 20 and February 20, every year until maturity date on February 20, 2024.
Investors may apply for these Bonds through the competitive bidding process only. They may submit bids through commercial licenced banks operating in the Sultanate. Investors with applications of OMR1 million and above can, if they so wish submit their bids directly to CBO after getting them endorsed from their banks.
Prospectus and application forms can be obtained from any commercial licenced bank operating in the Sultanate. 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 licenced bank. The Bonds can also be traded at prevailing market rates through the Muscat Securities Market (MSM).
The details of the Bonds allotted will be recorded in the register maintained by Muscat Clearing & Depositary Company (MCD). Investors must provide the same bank account details registered with MCD.
The 52nd GDB issue is offered to all investors, residents and non-residents (irrespective of their nationality).