BD200 million bond opens for subscription

MANAMA: A BD200 million Government Development Bond issue opened to direct subscription yesterday through the primary market.

The Bahrain Bourse (BHB) announced that Bahraini and Non-Bahraini investors can subscribe to the bonds through registered brokers until Tuesday.

Investors will be able to trade the bonds in the secondary market once they are listed on BHB, which is expected on October 28.

BHB has set a minimum subscription allotment of 500 bonds per subscriber. Allocation will be on the basis of the first 10,000 of bonds for each subscriber and the remaining quantity will be allocated on a pro-rata basis.

The securities have a par value of BD1 with October 14, 2021 as the date of issue and October 14, 2023 as the maturity date.

The annual fixed return on these securities is 2.75 per cent, which will be paid every six months on April 14 and October 14 every year throughout the period of this issue.

The Central Bank of Bahrain issued the bonds on behalf of the government, which directly guarantees the securities.



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