CBO Launches 73rd Issue of Government Development Bonds via Auction Method

Muscat, 6 Feb (ONA) — On behalf of the Government of Sultanate of Oman, represented by the Ministry of Finance (MOF), the Central Bank of Oman (CBO) announced the new issue of Government Development Bonds.

The size of the new issue is at RO 100 million, with a maturity period of 5 years and will carry a coupon rate of 4.60% p.a. The issue will be open for subscription from 9 February to 13 February, 2025 while the auction will be held on Sunday, 16 February 2025. The issue date will be on Tuesday 18 February, 2025. Interest on the new bonds will be paid semiannually on 18 February and 18 August, every year until maturity date on 18 February 2030.

Noteworthy, the 73rd Government Development Bonds 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 RO One million and above may submit their bids directly to CBO, at their own discretion, after getting them endorsed from their banks.

Notably, the Bonds are direct and unconditional obligations of the Government of Sultanate of Oman, represented by the Ministry of Finance. The Bonds can be used as collateral to obtain loans from any local commercial licensed banks and can also be traded at prevailing market rates through the Muscat Stock Exchange (MSX). The details of the Bonds allotted will be recorded in the register maintained by Muscat Clearing & Depositary Company (MCD).

—Ends/AG