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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

CBO launches RO 150m development bonds

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MUSCAT: The Central Bank of Oman (CBO) has announced the 53rd issue of Government Development Bonds (GDBs) for RO 150 million with


a maturity period of six years and a basic interest of 5.25 per cent per annum. The apex bank in a statement said that the new issue of bonds will open for subscription from May 2 to 8, while the auction will be held on May 9. The issue settlement date will be on May 15, 2017. Interest on the new bonds will be paid biannually on November 15 and May 15 every year until maturity date on May 15, 2023. The statement also said that the bonds shall be issued through competitive bidding process.


Investors may also apply through commercial licensed banks operating in the Sultanate. Investors with applications of RO 1 million and above can submit their bids directly to the CBO after getting them endorsed from their banks. Prospectus and application forms can be obtained from any bank operating in the Sultanate or from the CBO 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 licensed bank.


The development 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 (MCDC). Investors must provide the same bank account details registered with MCDC 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 53rd edition of Government Development Bonds is available for all investors from the Sultanate and abroad regardless of their nationalities. — ONA


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