New development bonds issue worth OMR 75 million

The Government has announced a new issue of development bonds aimed at raising at least 75 million Omani Rials through a public auction.

These bonds have a maturity period of five years, with a fixed annual interest rate of 4.75%.

The subscription period for this issue will be open for five days, starting  October 27, and ending on October 31. The auction is scheduled for 3 November 2024, and the bonds will be issued on 5 November 2024. Interest payments will be made semi-annually on 5 May and 5 November each year until the maturity date of 5 November 2029.

This current issue is the seventy-second in the history of the Central Bank of Oman and the fourth this year. The three previous development bond issues for this year saw strong demand and were comfortably subscribed.

The current bond issue is available to all investors, both resident and non resident. Offers must be submitted through licensed commercial banks in the Sultanate of Oman during the subscription period. Investors wishing to subscribe with an amount of one million Omani Rials or more can submit their offers directly to the Central Bank of Oman after obtaining the bank's endorsement.