BD200m bond subscription commences

A BD200 million Government Development Bond issue opens to direct subscription today through the primary market.

The Bahrain Bourse (BHB) announced that Bahraini and foreign investors can subscribe to the bonds through registered brokers from 9.30am to 11am.

Investors will be able to trade the bonds in the secondary market once they are listed on BHB, which is expected on May 10.

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 with the remaining quantity allocated on a pro-rata basis.

The securities have a par value of BD1 with May 3, 2023 as the issue date and May 3, 2025 as the maturity date.

The annual fixed return on these securities is 5.875 per cent, which will be paid every six months on May 3 and November 3 every year through the term of the issue.

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

Source: https://www.gdnonline.com/Details/1240172