$397.7mln bond subscription is open in Bahrain

Bahraini and expatriate investors can subscribe through registered brokers

  
General view of Bahrain World Trade Centre in Manama, Bahrain, June 20, 2019. Image used for illustrative purpose

General view of Bahrain World Trade Centre in Manama, Bahrain, June 20, 2019. Image used for illustrative purpose

REUTERS/ Hamad I Mohammed

MANAMA: Subscription to a BD150 million Government Development Bond closes at 10.15am tomorrow.

Bahraini and expatriate investors can subscribe through registered brokers, the Bahrain Bourse (BHB) has announced.

The bonds can be traded on the exchange’s secondary market once listed, which is expected to be on July 1, the bourse said.

The minimum subscription size is 500 bonds per subscriber and allocation will be on the basis of a maximum of 10,000 bonds for each subscriber initially with the remaining quantity allocated on a pro-rata basis.

The bonds with a par value of BD1 each have June 17, 2021 as the issue date and mature on June 17, 2026 – with a period of five years.

The annual fixed return on these securities is 3.60 per cent, to be paid bi-annually on June 17 and December 17 every year throughout the term of the issue.

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

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