Banking & Finance
Central Bank of Oman issues bonds worth OMR 100 mln
The Central Bank of Oman (CBO) hereby announced the new issue of Government development bonds (GDB). The size of the new issue is fixed at RO 100 million with a maturity period of 5 years and will carry a coupon rate of 3.5% p.a.
The Central Bank of Oman (CBO) hereby announced the new issue of Government development bonds (GDB). The size of the new issue is fixed at RO 100 million with a maturity period of 5 years and will carry a coupon rate of 3.5% p.a.
The issue will be open for subscription from 07th to 14th February 2016 while the auction will be held on Tuesday, 16th February 2016. The issue settlement date will be on Monday 22nd February, 2016. Interest on the new bonds will be paid semiannually on 22nd August and 22nd February, every year until maturity date on 22nd February 2021.
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 RO One 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 licensed 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 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. Investors must provide the same bank account details registered with MCD in order to ensure the smooth processing of their bids and the receipt of the coupon payments and principal amount on their scheduled dates.
The 48th GDB issue is offered to all investors, residents and non-residents (irrespective of their nationality).
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