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FINANCIAL NEWS
Oman to issue 5-yr bonds worth USD260m: CB
18 Nov 2012
(MENAFN) Oman’s central bank announced that the government will issue 5-year development bonds worth USD260 million, with an annual interest rate of 3.25 percent, reported Arabian Business.
The bank said that interest on the bonds, which would be traded in the Muscat Securities Market, would be paid on June 5 and December 5 each year, until maturity date, on December 5, 2017.
Although the bank didn’t reveal the reason behind the sale, however, the Sultanate used to issue bonds to finance infrastructure projects.
It is worth noting that the subscription of the bonds will begin on November 18 and last until November 29, whereas an auction will take place on December 3.
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