MANAMA: Subscription to a BD159 million Government Development Bond opens today, according to Bahrain Bourse.

Bahraini and non-Bahraini investors can subscribe through registered brokers until tomorrow, it said yesterday.

The bonds can be traded on the exchange’s secondary market once listed, which is expected to be on June 2, the bourse said.

“The subscription will be open on Monday from 9.30am to 1pm and on Tuesday from 9.30am to 10.15 am,” Bahrain Bourse said.

“Minimum subscription size is 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.”

It said the BD150m bond issued at a par value of BD1 each for five years will mature on May 19, 2027.

“The annual fixed return on these securities is 5.5 per cent and will be paid bi-annually on May 19 and November 19 every year.”

The Central Bank of Bahrain issued the Government Development Bond on behalf of the government, which directly guarantees the bonds, it said.

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