Oman successfully completes requirements for $2.5 billion worth bonds

 18 Jun 2016 - 13:03

Oman successfully completes requirements for $2.5 billion worth bonds
 

Muscat: As part of its plans to finance the state budget's deficit, Omani Ministry of Finance said that it has mandated five international banks with the task of making necessary arrangements to issue USD 1.5 - USD 2.5 billion global bonds.
Oman had recently managed to successfully complete the requirements for USD 2.5 billion worth bond issue. The value of the subscription applications by 524 investors stood at more than USD6 billion, the Ministry of Finance said in a statement carried by Oman News Agency (ONA).
The statement said that the issue is divided into two tiers. The maturity of the first tier, worth of USD1 billion, will be after five years from the date of issue with nominal interest rate of 3.625%. The maturity date of the second tier, worth of USD1.5 billion, will be after 10 years with nominal interest rate of 4.750%. 

QNA