Arab Today, arab today oman raises 25b in bonds to meet deficit
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Oman raises $2.5B in bonds to meet deficit

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Arab Today, arab today Oman raises $2.5B in bonds to meet deficit

Oman raises $2.5B in bonds to meet deficit
Muscat - WAM

 Oman has raised US$2.5 billion in a bond sale arranged by five international banks to help meet its budget deficit, the finance ministry said Saturday.

The ministry, quoted by the Oman News Agency, said the sultanate's bond issue was oversubscribed by almost three times. The value of the subscription applications by 524 investors stood at more than USD6 billion The Gulf state sold $1 billion in bonds to mature in five years at an interest rate of 3.625 percent and a 10-year issue worth $1.5 billion at 4.750 percent, it said in a statement.

Source :WAM

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