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FINANCIAL NEWS
Oman to issues $260m 5-yr bonds
24 Jun 2010
(MENAFN) The Central Bank of Oman has announced plans to issue five year development bonds worth $259.7 million with a 4 percent coupon, state news agency ONA reported.
The subscription period will run from June 28 to July 15 for the bonds which will be issued on July 26 and mature on July 26 2015, the central bank said.
The Sultanate’s government has maintained a tight control of public debt in the past years. The non OPEC oil producer’s debt fell to 5.6 pct of gross domestic product in 2009, from 34 percent in 1999.
Oman had based its 2010 budget on a projected oil price of $50 a barrel and expected a deficit of $2.07 billion given plans to finance a range of infrastructure projects.
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