MANAMA: Bahraini and Non-Bahraini investors can directly subscribe through the primary market of Bahrain Bourse (BHB) in the Government Development Bond Issue 17 by giving their orders to registered brokers at the bourse from today.
Investors will be able to trade the bonds on the secondary market at BHB once listed on it, which is expected to be on August 19.
The subscription period ends on Wednesday. The subscription will be open from today till Tuesday between 9.30am and 1pm and on Wednesday from 9.30am to 11am.
The BD150 million bond issued at a par value of BD1 each on August 5 for a period of three years ending on August 5, 2021 with a coupon rate of 6.55 per cent, which will be paid every six months on February 5 and August 5 every year throughout the issue period.
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.
One of the main advantages of subscribing through Bahrain Bourse is the ability to own bonds directly (beneficiary ownership).
In order to encourage retail investors, the bourse specified a minimum subscription of BD500 (500 bond). BHB has also determined a minimum allotment of 10,000 bonds per subscriber applying for an amount of BD10,000 and above, while the remaining quantity will be allocated on pro-rata basis.
&uuid=(email))