CBO issues government development bonds worth OMR100mn

CBO issues government development bonds worth OMR100mn

Muscat: The Central Bank of Oman (CBO) announced a new issue of government development bonds (GDB). The size of the new issue stands at OMR100 million (can be increased) with a maturity period of three years and will carry a coupon rate of 4.90 percent annually.

The issue will be open for subscription from 15 to 22 February 2024, while the auction will be held on 25 February 2024. The issue settlement date will be on 27 February, 2024. Interest on the new bonds will be paid semiannually on 27 August and 27 February, every year until the maturity date on 27 February 2027.

Investors may apply for these Bonds through the competitive bidding process only and may submit bids through commercial licensed banks operating in the Sultanate of Oman. Furthermore, investors with applications of OMR1 million and above may submit their bids directly to CBO, at their own discretion, after getting them endorsed from their banks. Prospectus and application forms can be obtained through the Central Bank of Oman (CBO) official website.

Notably, the bonds are direct and unconditional obligations of the Government of Sultanate of Oman, represented by the Ministry of finance. The bonds can be used as collateral to obtain