JEDDAH: Oman recorded strong investor appetite in its latest Government Development Bond offerings, attracting a combined 224.77 million Omani rials ($584 million) in bids across the 78th and 79th issues.
According to the Central Bank of Oman, the 78th GDB auction drew applications worth 182 million rials against an allotment of 100 million rials.
Government development bonds — or GDBs — are issued by the government of Oman to provide an investment avenue for surplus liquidity and to fund capital expenditures for development projects across the country. CBO issues these bonds on behalf of the government under specific conditions and regulations.
In a release, the central bank stated: “The average yield was 4.14 percent at an equivalent price of 100.360 Omani rials, while the highest yield was 4.18 percent at an equivalent price of 100.120 rials and the lowest yield was 4.10 percent at an equivalent price of 100.605 rials.”
The 79th GDB auction received applications totaling 42.75 million rials, with an allotment of 20 million rials.
