Central bank says subscription of government bonds will start on November 18
Oman will issue five-year government development bonds worth OR100m ($260m) at an annual interest rate of 3.25 percent, a statement from the central bank of Oman said on Saturday.
The subscription of the bonds will start on November 18 and last until November 29. An auction will take place on December 3, the statement said.
Interest on the bonds will be paid on June 5 and December 5 every year until maturity is reached on December 5, 2017.
The bonds will be traded in the Muscat Securities Market.
The central bank statement did not elaborate on the reason for the sale, but in the past Omani bonds have been used to fund infrastructure projects.For all the latest banking and finance 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.