Mubasher: Bahraini and non-Bahraini investors can directly subscribe through the primary market of Bahrain Bourse (BHB), starting from Sunday, 17 July, 2016.
The bonds issuance is worth BHD 300 million at a par value of BHD 1 each, with a three-year duration from 21 July, 2016 to 12 July, 2019, according to a recent statement.
The annual fixed return on these securities is 4.45% which will be paid every six months on 21 January and 21 July every year throughout the period of this issue.
“The first coupon payment will be paid on 21 January, 2017 and the last coupon payment on 21 July, 2019,” the statement added.
BHB has specified a minimum subscription of BHD 500 (500 bonds), with 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.
This step was taken according the Central Bank of Bahrain’s (CBB) invitation on behalf of the government.
Thus, investors will be able to trade the bonds in the secondary market of BHB once listed, which is expected to be on 7 August, 2016.
The subscription period through the registered brokers will be from 17 to 19 July, 2016.
