Friday, March 29, 2024 | Ramadan 18, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Oman raises $5bn from bond sale

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MUSCAT: The international markets gave a vote confidence to the Sultanate when sold bonds worth $5 billion. Order books for the issue totalled $20 billion, bankers said. The five-year tranche, a maturity which traditionally attracts demand from Gulf investors, totalled $1 billion, while the 10- and 30-year tranches raised $2 billion each. The high turnout reflects the confidence of the international financiers and investors on the Omani economy and banking sector in general. It also reflects the satisfaction of these organisations over the measures taken by the government to address the sharp decline in revenue due to oil price drop. The international bonds issued by the Sultanate are one of the tools to finance the expected deficit at the beginning this year as the government has taken a number of measure to cover this deficit without adding burdens on the citizens.


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