The Central Bank of Bahrain (CBB) announced that the issue of the 5-year Government Development Bond has been oversubscribed by 214 percent.
Subscriptions worth 320.373 million Bahraini dirhams (BD) were received for the BD 150 million issues, which carry a maturity of 5 years.
The annual fixed return on these securities is 5.5 percent and will be paid bi-annually on May 19 and November 19 every year.
Earlier today, Bahrain Bourse (BHB) announced the opening of a subscription to a 150 million Bahraini Dirhams (BD) Government Development Bond.
Bahraini and non-Bahraini investors were allowed to subscribe through registered brokers.
The bonds can be traded on the exchange’s secondary market once listed, which is expected to be on June 2, the bourse said.
The minimum subscription size had been set at 500 bonds per subscriber. Allocation was on the basis of the first 10,000 bonds for each subscriber and the remaining quantity was allocated on a pro rata basis.
The bourse noted that the BD150 million bond issued at a par value of BD 1 each for five years will mature on May 19, 2027.
The Central Bank of Bahrain (CBB) issued the Government Development Bond on behalf of the government, which directly guarantees the bonds.
