Subscription in Government Development Bond’s 19th issue through BHB commences

Manama, Bahrain Bourse (BHB) announced that as of Sunday, November 3, and according to the invitation announced by the Central Bank of Bahrain (CBB), Bahraini and Non-Bahraini investors can directly subscribe through the primary market of BHB in the Government Development Bond Issue 19 (BHD 185 million) that has been issued by the CBB on behalf of the Government of Bahrain by executing their orders through registered brokers at Bahrain Bourse.

Thereafter, investors will be able to trade the Bond on the secondary market at BHB once listed on BHB, which is expected to be on the 24th of November 2019.

Bahrain Bourse specified that the subscription period through the registered brokers is effective on Sunday the 3rd of November, starting from 9.30 AM until Wednesday 6th of November. The subscription will be open on Sunday until Tuesday from 9:30 AM until 1:00 PM and on Wednesday from 9:30 AM until 10:30 AM. Minimum subscription size is 500 bond 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 BHD 185 million Bond issued at a par value of BHD 1 each on the 10th of November 2019 for a period of 5 years maturing on the 10th of November 2024. The annual fixed return on these securities is 4.00%, and will be paid bi-annually on 10th of November and 10th of May every year throughout the period of this issue.

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

Source: Bahrain News Agency