Government bonds issue fully subscribed

Manama : The Central Bank of Bahrain (CBB) announced that the issue of the 5.5 year Government Development Bonds has been subscribed by 100 per cent.

Subscriptions worth BD 200 million were received for the BD 200 million issue, which carries a maturity of 5.5 years.

The expected interest rate on the issue, which begins on 27 December 2017 and matures on 27 June 2023, is 5.50pc.

The Government Development Bonds are issued by the CBB on behalf of the Government of the Kingdom of Bahrain.

This is Government Development Bond issue No.15 (BH00063E4993).

Bahraini and non-Bahraini investors were allowed to trade in the bonds in the secondary market of the Bahrain Bourse (BHB). 

The BD200 million Bonds will be issued at a par value of BD1 each on 27 December 2017 for a period of 5.5 years ending on 27 June 2023. The annual fixed return on these securities is 5.50%, and will be paid every six months on 27 June and 27 December every year throughout the period of this issue.

Minimum subscription was 500 BHD (500 bonds) and minimum allotment was 10,000 bonds per subscriber applying for an amount of BHD 10,000 and above. 

Upon listing of the bonds, investors will be able to trade them in the secondary market through a registered broker at BHB during the trading session, which is held on a daily basis from Sunday to Thursday.

The subscription were open on Thursday and Sunday from 9:30am until 1:00pm and on Monday from 9:30am until 11:00am.