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With a Size of BD 150, Million Commencement of Subscription in the 9th Issue of the Government Development Bond through Bahrain Bourse
Jul 26, 2015
Bahrain Bourse (BHB) announced that as of today, Sunday, 26th July 2015, 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 in the Government Development Bond Issue No. 9 that has been issued by the CBB on behalf of the Government of Bahrain by giving their orders to registered brokers at Bahrain Bourse. Thereafter, investors will be able to trade the bonds in the secondary market at BHB once listed on BHB, which is expected to be on 16th August 2015.

The Bourse specified that the subscription period through the registered brokers is effective Sunday 26th of July 2015 until Tuesday 28th of July 2015.

The BD150 million securities issued at a par value of BD1 each on 30th July 2015 for a period of 5 years ending on 30th July 2020. The annual fixed interest rate on these securities is 4.00%, and will be paid every six months on 30th January and 30th July every year throughout the period of this issue, in which the first coupon payment will be paid on 30th January 2015 and the last coupon payment on 30th July 2020.

The Government Development Bond are financial instruments issued by the CBB on behalf of the Government of the Kingdom of Bahrain in order to create new areas for investment of surplus financial resources in the community and fund capital expenditure for various development projects. The Government of Bahrain directly guarantees the development bond issue.

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 500 BHD (500 bonds). BHB has also determined a minimum allotment of 10,000 bonds per subscriber applying for an amount of BHD 10,000 and above, while the remaining quantity will be allocated on pro rata bases.

Upon listing of the bond, investors will be able to trade the securities 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.

It is worth mentioning that this is the first subscription in the Government Development Bond through Bahrain Bourse, following the success of the two previous subscriptions in the Government Islamic Lease (Ijarah) Sukuk that were issued in January and July 2015.

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