$397.8mln bond subscription opens in Bahrain

Investors will be able to trade the bonds in the secondary market once they are listed on BHB

  
Image used for illustrative purpose. One hundred Dollar bills.

Image used for illustrative purpose. One hundred Dollar bills.

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MANAMA: A BD150 million Government Development Bond issue opens today to direct subscription through the primary market, said Bahrain Bourse (BHB) 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 August 22.

The subscription is effective from 9.30am today and will remain open until 10.15am next Tuesday.

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 August 5, 2021 as the date of issue and August 5, 2024 as the maturity date.

The annual fixed return on these securities is 3.2 per cent, which will be paid every six months on February 5 and August 5 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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