Central Bank of Oman announces OMR150m bond issue

Muscat: Oman’s banking regulator plans to raise OMR150 million through a government development bond isssue.
The Central Bank of Oman (CBO) said that the maturity period of bonds will be 10 years and will carry a coupon rate of 5.5 per cent per annum.
The issue will be open for subscription on December 11 until December 18, 2016. The auction will be held on December 21, 2016 with the settlement date on December 27, 2016.
Investors may apply for these bonds through the competitive bidding process only and can submit bids through commercial licenced banks operating in the Sultanate. Investors with applications of OMR1 million and above can submit their bids directly to CBO after getting them endorsed from their banks. Prospectus and application forms can be obtained from any commercial licenced bank operating in the Sultanate.
The Bonds are direct and unconditional obligations of the Government of Sultanate of Oman and can be used as collateral to obtain loans from any local commercial licensed bank.
The Bonds can also be traded at prevailing market rates through the Muscat Securities Market (MSM) and the details of the bonds allotted will be recorded in the register maintained by Muscat Clearing & Depositary Company (MCD).
Investors must provide the same bank account details registered with MCD 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 SP GDB issue is offered to all investors, residents and non-residents (irrespective of their nationality).