MUSCAT: The Government of the Sultanate of Oman, through the Ministry of Finance and the Central Bank of Oman, has announced the 72nd issue of Government Development Bonds, offering RO 75 million with an option to increase. The bonds will have a maturity period of five years and an annual coupon rate of 4.75%.
Public subscription for these bonds will open on October 27, 2024, and close on October 31, 2024, with the auction set for November 3, 2024. The bonds will be issued on November 5, 2024, with semi-annual interest payments on May 5 and November 5 until maturity on November 5, 2029.
The bonds are available to both local and international investors, with subscription through competitive bids made via commercial banks operating in Oman. Non-banking institutions and individuals may also participate with bids of RO 1 million or more, subject to approval by commercial banks.
The Government of Oman guarantees these bonds, which can be traded on the Muscat Stock Exchange and borrowed against at licensed local banks. Bondholder information will be maintained by Muscat Clearing and Depository Company, ensuring transparency and proper record-keeping. — ONA
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