Oman to issue government development bonds worth OMR75mn

Oman to issue government development bonds worth OMR75mn

Muscat: Public subscription through competitive auction (submission of bids) will begin on Sunday for the 70th issue of government development bonds.

It is noteworthy that the value of a new issuance of government development bonds (GDBs) is worth OMR75 million - with an option to increase - with a maturity period of two years and a basic interest rate (coupon) of 4.85 percent annually.

The statement issued by the Central Bank of Oman stated that subscriptions will close on April 21, 2024, while the auction will be held on Tuesday, April 23, 2024.

These bonds will be issued on Thursday, April 25, 2024 (settlement), and are due for payment on April 25, 2026. The interest due on the new bonds will be paid twice each year on October 25 and April 25 until their maturity date on April 25, 2026.

Subscription to this bond issue is available to all categories of investors from inside and outside the Sultanate of Oman (regardless of their nationalities). The bonds will be issued by competitive subscription only, and investors must submit their bids through commercial banks operating in the Sultanate of Oman during the subscription period.

The Central Bank of Oman (CBO) accepts applications submitted by bidders other than