Govt bonds open for subscription

Manama : Starting today, Bahraini and non-Bahraini investors can subscribe directly through the primary market of Bahrain Bourse (BHB) in the Government Development Bonds No. 15, announced BHB in a statement. 

Investors, BHB said, will be allowed to trade the bonds in the secondary market once listed on BHB, which is expected to be on 14 January 2018.

Subscription period of the bonds, issued by CBB on behalf of the government of Bahrain, through the registered brokers is effective 21 December 2017 until 25 December 2017.  

The subscription will be open on Thursday and Sunday from 9:30am until 1:00pm and on Monday from 9:30am until 11:00am.

The BD200 million Bonds issued at a par value of BD1 each on 27 December 2017 for a period of 5.5 years ending on 27 June 2023. The annual fixed return on these securities is 5.50%, and will be paid every six months on 27 June and 27 December every year throughout the period of this issue.

Minimum subscription is 500 BHD (500 bonds). The minimum allotment is 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 bonds, investors will be able to trade them 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.