Oman to raise RO100mn via development bonds

Oman to raise RO100mn via development bonds

Muscat – Oman’s government plans to raise at least RO100mn through this year’s first issuance of government development bonds. The Central Bank of Oman (CBO), on behalf of the Ministry of Finance, announced the 69th issue of the government development bonds. The size of the new development bonds issue stands at RO100mn with an option […]Muscat – Oman’s government plans to raise at least RO100mn through this year’s first issuance of government development bonds. The Central Bank of Oman (CBO), on behalf of the Ministry of Finance, announced the 69th issue of the government development bonds.

The size of the new development bonds issue stands at RO100mn with an option to exceed the announced amount (greenshoe option), with a maturity period of three years, as per the CBO’s statement.

The issue will be open for subscription from February 15 to February 22, 2024, while the auction will be held on February 25, 2024. The settlement date for the issue will be on Tuesday, February 27, 2024.

The bonds will carry an annual coupon rate of 4.9%. Interest on the new bonds will be paid semiannually on August 27 and February 27 every year until the maturity date on February 27, 2027.

Investors may apply