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CBO launches 44th issue of development bonds
October 29, 2013 , 8 : 44 pm GST
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The Central Bank of Oman (CBO) has announced the new issue of Government Development Bonds (GDB). The size of the new issue is fixed at OMR100 million with a maturity period of 5 years and will carry a coupon rate of 3 per cent per annum.
The issue will be open for subscription from November 10 to 18, while the auction will be held on November 19. The issue settlement date will be on November 25. Interest on the new bonds will be paid on May 25 and November 25, every year until maturity date on November 25, 2018.
Investors may apply for these bonds through the competitive bidding process only. Investors may submit bids through licensed banks operating in the Sultanate of Oman. Investors with applications of OMR1 million and above can, if they so wish to submit their bids directly to the 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 Sultanate of Oman. The bonds can be used as a collateral to obtain loans from any local licensed bank.
The 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 & Depositary Company (MCDC). Investors must provide the same bank account details registered with MCDC.
The 44th GDB issue is offered to all investors of any nationality residing in the Sultanate of Oman only; it is not open for subscription to investors residing abroad.
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