Bank Muscat to issue eighth CD on Sept. 15

MUSCAT, Sept 11 (Reuters) - Oman's Bank Muscat (BMAO.OM) said on Friday it would auction its eighth certificate of deposit (CD) worth 40 million Omani rials on Sept. 15.

The CDs will be issued on Sept. 20 in three categories with maturity of 12, 36 and 60 months at interest rates of 3.75 percent, 4.75 percent and 5.50 percent respectively, the bank said in a statement.

The minimum subscription is 100,000 rials and interest will be paid every six months.

Oman's biggest bank is looking to raise 250 million rials and has so far received 94.1 million rials from the previous seven auctions. The bank's first CD issue was in September 2008.

Bank Muscat also raised $195 million from seven-year bonds in May.

(Reporting by Saleh al-Shaibany; Editing by Jason Benham and David Holmes)

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Keywords: BANKMUSCAT/CD

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