Latest Oman govt bond oversubscribed by 53pc

It said in a statement that subscription for the 5 per cent coupon bond began on November 9 and ended on December 9. The bonds, available to local and international investors, will be issued on December 15 and mature on November 1, 2010.

Interest will be paid on May 1 and November 1 of each year. The Gulf Arab state has issued government bonds worth 202 million rials this year to cover part of a forecast 500 million rial budget deficit in 2004.

The sultanate issues bonds regularly to help finance development projects.