The Central Bank of Oman (CBO)
announced the new issue of Government development bonds (GDB).
The size of the new issue is fixed at RO 150 million with a maturity
period of 10 years and will carry a coupon rate of 6% p.a. The issue will
be open for subscription from 7 to 15 March 2018 while the auction will
be held on Sunday, 18 March 2018. The issue settlement date will be
on Wednesday, 21 March 2018. Interest on the new bonds will be paid
semiannually on 21 September and 21 March every year until maturity
date on 21 March 2028.
Investors may apply for these Bonds through the competitive
bidding process only. Investors may submit bids through commercial
licensed banks operating in the Sultanate. Investors with applications
of RO one million and above can, if they so wish may 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 the
CBO Official website.
The Bonds are direct and unconditional obligations of the
Government of Sultanate. 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 and Depositary Company (MCD).
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
The 56th GDB issue is offered to all investors, residents and
non-resident (irrespective of their nationality).
Source: Oman News Agency