PDMO announces interest rates for government bonds

The Public Debt Management Office (PDMO) this week unveiled the interest rates for six-year nominal government bonds for individual investors, effective from the second series (July) of 2024.

An announcement released by the PDMO stated that applications for the second series of bonds will be accepted during the month of June 2024 (with a submission period from June 3, 2024, to June 20, 2024).

Specifically, for holding bonds for a period of 24 months, the annual nominal interest rate (effective from July 1, 2024) stands at 1.25 per cent.

For periods exceeding 24 months up to 48 months, it increases to 1.35 per cent. Beyond 48 months up to 60 months, the interest rate amounts to 1.45 per cent, and for periods exceeding 60 months up to 72 months, it reaches 1.55 per cent.

Moreover, the announcement noted that the weighted average annual interest rate, in the case of holding the bond until maturity (6 years), approximately amounts to 1.367 per cent (1.366667 per cent).

Investors seeking to participate in the bond issuance are encouraged to submit their applications within the specified timeframe.