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Oman’s RO200mn development bonds issue oversubscribed

27 Dec 2019

The Central Bank of Oman (CBO) on Wednesday announced that the 62nd issue of the government development bonds worth RO200mn has been oversubscribed comfortably.

‘The 62nd government development bonds issue received overwhelming response from investors. The issue has received applications for RO270.982mn against the issue size of RO200mn,’ the CBO said in a statement on its website.

The average yield on the government development bond was 5.55 per cent at an equivalent price of RO101.520. While the highest yield was 5.65 per cent at an equivalent price of RO100.755, the lowest yield was at 5.35 per cent at an equivalent price of RO103.070, the central bank said.

The ten-year bond will be issued today and will mature on December 26 2029, carrying a coupon rate of 5.75 per cent per annum.

The issue was open for subscription between December 15, 2019 and December 23, 2019 for all investors irrespective of their nationalities. The auction was held on Tuesday and the issue settlement date is today.

 

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