Manama: Investors will today be able to buy and sell a fresh set of Government Development Bonds following their listing on the Bahrain Bourse (BHB) yesterday.
In a statement, the exchange said the bonds, floated to raise BD100 million, will be traded under the symbol GDEV8.BND.
Having a par value of BD1, a total of 100m bonds were issued by the Central Bank of Bahrain on behalf of the government on July 14 for a period of two years ending July 14,
2017.
Returns on the securities will be paid every six months on January 14 and July 14 throughout the term of the issue, in which the first coupon payment will be on January 14, 2016 and the last coupon payment on July 14, 2017.
The annual fixed interest rate on these securities is 2.75pc.
Investors wanting to buy or sell the bonds need to place their orders through registered brokers who will feed them into the trading system, the BHB said.
The system will automatically process the orders in accordance with price priority first and time
priority later.
Each transaction has to have a minimum value of BD400.
Following this listing, the number of conventional bonds and sukuks listed on BHB is 12 with an
approximate total value of $5.127
billion.
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