We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 20 Jul 2010 09:08 PM

Font Size

- Aa +

Oman places $260m 5yr govt development bonds

Cbank does not expect the country to tap international markets in 2010.

Oman places $260m 5yr govt development bonds
BOND ISSUE: Oman has placed $260m in a 5 year domestic development bond, which will be issued on July 26, carrying a coupon of 4%. (Getty Images)

The Gulf sultanate of Oman has placed 100 million rials ($260 million) in 5 year domestic development bonds, to be issued on July 26, carrying a coupon of four percent, a statement from the central bank showed on Tuesday.

Oman's central bank head said in March that the Gulf state would likely issue $316.9 million in domestic bonds to replace the same amount of debt maturing in November, but did not expect to tap international markets in 2010.

The government development bonds, maturing in July 2010 offfer an average yield of 2.37 percent, the central bank statement showed. Total bids reached $608.8 million, the central bank statement showed.

The sultanate's government has maintained a tight control of public debt in the past years. The non OPEC oil producer's debt fell to 5.6 pct of gross domestic product in 2009, from 34 percent in 1999.

Arabian Business: why we're going behind a paywall

For all the latest Oman news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.