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CBO launches OMR80m development bond issue.

Summary: Muscat: The Central Bank of Oman (CBO) yesterday announced the new issue of Government ...

Muscat: The Central Bank of Oman (CBO) yesterday announced the new issue of Government development bonds. The size of the new issue is fixed at OMR80 million with a maturity period of seven years and will carry a coupon rate of 4.25 per cent per annum. The issue will be open for subscription between April 28 and May 6, 2013 while the auction

will be held on May 8, 2013. The issue settlement date will be on May 13, 2013. Interest on the new bonds will be paid on November 13 and May 13, every year until maturity date on May 13, 2020. Investors may apply for these bonds through the competitive bidding process only. Investors may submit bids through licensed banks operating in the Sultanate. Investors with applications of OMR1 million and above can, 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 licensed bank operating in the Sultanate. The bonds are direct and unconditional obligations of the Government of Oman. The bonds can be used as a collateral security to obtain loans from any local licensed bank and 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 the Muscat Clearing & Depositary Company. The issue is offered to all investors of any nationality residing in the Sultanate only and is not open for subscription to investors residing abroad. CBO pointed out that for further details and prospective investors may contact the Central Bank of Oman (Monetary Operations Department) or any of the licensed banks in the Sultanate of Oman.

Muscat Press and Publishing House SAOC 2013

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Publication:Times of Oman (Muscat, Oman)
Geographic Code:7OMAN
Date:Apr 20, 2013
Words:317
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