Oman’s RO200mn devel­op­ment bonds is­sue over­sub­scribed

Muscat Daily - - BUSINESS -

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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