CBO launches 65th issue of government development bonds

Muscat: The Central Bank of Oman (CBO) announced the new issue of government development bonds. The size of the new issue is fixed at OMR 200 million with a maturity period of 7 years and will carry a coupon rate of 5.50 per cent p.a.
The issue will be open for subscription from August 9 to 13 while the auction will be held on Sunday, August 16. The issue settlement date will be on Tuesday, August 18.
Interest on the new bonds will be paid semiannually on February 18 and August 18, every year until maturity date on August 18, 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 of Oman. Investors with applications of OMR 1 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 Central Bank of Oman Official website (www.cbo.gov.om).
The bonds are direct and unconditional obligations of the government of Oman. 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).
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 to ensure the smooth processing of their bids and the receipt of the coupon payments and principal amount on their scheduled dates.
The 65th GDB issue is offered to all investors, residents and non-residents (irrespective of their nationality).
For further details, prospective investors may contact the Central Bank of Oman (Monetary Operations Department at (24777426/837/635/428/431/425/145) or any of the commercial licensed banks in the Sultanate of Oman.