Central Bank of Oman

04/02/2024 | Press release | Distributed by Public on 04/03/2024 10:32

THE GOVERNMENT OF SULTANATE OF OMAN LAUNCHES THE...

​On behalf of the Government of Sultanate of Oman, represented by the Ministry of Finance (MOF), the Central Bank of Oman (CBO) hereby announces the new issue of Government development bonds. The size of the new issue is at OMR 75 million with an option to exceed the announced amount (Greenshoe option), with a maturity period of 2 years and will carry a coupon rate of 4.85% p.a. The issue will be open for subscription from 14th April to 21st April, 2024 while the auction will be held on Tuesday, 23rd April 2024. The issue settlement date will be on Thursday 25th April, 2024. Interest on the new bonds will be paid semiannually on 25th October and 25th April, every year until maturity date on 25th April 2026.

Noteworthy, the 70th GDB 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.

Furthermore, investors with applications of OMR One million and above may submit their bids directly to CBO, at their own discretion, after getting them endorsed from their banks.

Interested investor may obtain MSX Investor Code through visiting Muscat Clearing and Depository Co. (MCD)'s website (www.mcd.gov.om) or via Oman Stocks app at least one day prior to submitting the application to the commercial bank.

Prospectus and application forms can be obtained through the CBO's website (www.cbo.gov.om) and the MOF's website (www.mof.gov.om) or through their accounts on social media.​​

Notably, the Bonds are direct and unconditional obligations of the Government of Sultanate of Oman, represented by MOF. The Bonds can be used as collateral to obtain loans from any local commercial licensed bank 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). ​

Therefore, 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.

For further details, prospective investors may contact the Central Bank of Oman (Market Operations Department at (24777429/145/635) or any of the commercial licensed banks in the Sultanate of Oman.