Oman to raise OMR75mn through development bonds

Muscat: On behalf of the government of the Sultanate of Oman represented by the Ministry of Finance, the Central Bank of Oman (CBO) announced the new issue of Government Development Bonds (GDBs).

The size of the new issue stands at OMR75 million with an option to exceed the announced amount (Greenshoe option), with a maturity period of 5 years and will carry a coupon rate of 4.75 percent per annum. The issue will be open for subscription from 27th October to 31st October, 2024 while the auction will be held on 3 November, 2024.

The issue date will be on 5 November, 2024. Interest on the new bonds will be paid semi-annually on 5 May and 5 November, every year, until the maturity date on 5 November, 2029.

Noteworthy, the 72nd GDP issue is offered to all investors, residents and non-residents (irrespective of their nationality). 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 during the subscription period.

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.