BD200 million bond opens for subscription

MANAMA: A BD200 million government development bond issue opens today to direct subscription through the primary market, the Bahrain Bourse (BHB) said yesterday.

Bahraini and non-Bahraini investors can subscribe to the bonds through registered brokers at BHB.

Investors will be able to trade the bonds in the secondary market once they are listed on BHB, which is expected on May 19.

The subscription is effective from 10am today and will remain open until 11am on Monday.

BHB has set a minimum subscription size of 500 bonds per subscriber.

Allocation will be on the basis of the first 10,000 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 May 5, 2021 as the date of issue and May 5, 2026 as the maturity date.

The annual fixed return on these securities is 3.6 per cent, and will be every six months on May 5 and November 5 every year throughout the five year term of the issue.

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

Source: https://www.gdnonline.com/Details/943427