MUSCAT: The Central Bank of Oman (CBO) has announced a new plan of Government Development Bonds (GDB) that is fixed at OMR200 million with the period of ten years.
The plan settlement date will be on February 23, 2015. Interest on the new bonds will be paid on August 23 and February 23 of each year until the maturity date on February 23, 2025.
Investors may apply for these bonds through the competitive bidding process only. Investors may submit bids through commercial licensed banks operating in the Sultanate of Oman.
Investors with applications of OMR1 million and above can, if they wish, submit their bids directly to the 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 the Sultanate of Oman. They 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).
The 46th 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.
Certificates of deposit tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 901 was OMR466 million.
A bulletin issued by the CBO stated that the average interest rate of these certificates was 0.13 per cent whilst the maximum accepted interest rate was 0.13 per cent. The tenure of these certificates is 28 days, and their maturity date is February 18. The rate from January 21 to 27 is 1 per cent.
