Muscat: The Central Bank of Oman (CBO) announced the new issue of Government development bonds.
The size of the new issue is fixed at OMR100 million with a maturity period of 5 years and will carry a coupon rate of 5.25% per annum.
The issue will be open for subscription from 9th to 18th July, 2019 while the auction will be held on Sunday, 21st July 2019. The issue settlement date will be on Tuesday 23rd July, 2019. Interest on the new bonds will be paid semiannually on 23rd January and 23rd July, every year until maturity date on 23rd July 2024.
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 OMR1,000,000 and above may, 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; or through CBO Official website.
The Bonds are direct and unconditional obligations of the Government of the Sultanate. The Bonds can be used as collateral to obtain loans from any local commercial licenced 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 scheduled dates.
The 61st CDB issue is offered to all investors, residents and non-residents (irrespective of their nationality).
courtesy: Times of Oman