09/15/2021 | Press release | Distributed by Public on 09/15/2021 08:05
PROSPECTUS THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS BAHAMAS REGISTERED STOCK (No. 2) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$40,000,000
ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021
Prospectus Date: September 3, 2021
|Issuer:||Bahamas Government||Open Date:||September 8, 2021 (9:30 a.m.)|
|Registrar:||Central Bank of The Bahamas||Close Date:||September 10, 2021 (3:00 p.m.)|
|Organizer:||Central Bank of The Bahamas||Settlement:||September 14, 2021|
|Minimum:||$100||First Int Pmt:||February 17, 2022 (short)|
|Security ID||Issue Size (B$)||Can Grow/Shrink?||Unit Share(B$)||Tenor (Years)||Interest (Fixed)||Maturity||Interest Payment||
|BGR146124||4,000,000||Yes||100||3||3.60%||August 17, 2024||Semi-annual||383,700|
|BGR146126||1,000,000||Yes||100||5||4.05%||August 17, 2026||Semi-annual||762,900|
|BGR146128||1,000,000||Yes||100||7||4.70%||August 17, 2028||Semi-annual||58,200|
|BGR146131||8,000,000||Yes||100||10||5.45%||August 17, 2031||Semi-annual||4,203,800|
|BGR146141||8,000,000||Yes||100||20||6.00%||August 17, 2041||Semi-annual||1,282,800|
|BGR146151||18,000,000||Yes||100||30||6.50%||August 17, 2051||Semi-annual||9,997,700|
Instructions for participation in this Initial Public Offering are outlined below:
Application: Complete an electronic application. Sign and submit the application to the domestic debt Email address [email protected] with the subject 'BRS Application' + 'Client Name' (e.g. BRS Application for John Doe). Applicants will receive an acknowledgement within four hours of submission, during normal business hours.
KYC/ID: (1) Bahamian E-Passport; or
(2) NIB Smart Card paired with one of the following: Bahamian Driver's License, National Identity Card, Permanent Residence Permit, other National Passport, or Spousal Permit. New Business customers must present a list of its authorized signatories along with Memorandum/Articles of Association.
Payments: Subscription payments may be made electronically via commercial bank or digitally via Sand Dollar in accordance with the user's wallet limit. Settlement instructions are as follows:
1.Bank Wire Information
Beneficiary Bank: Central Bank of The Bahamas
Account: CBOB General Account 1315010051
Branch Code: 10000 (if applicable)
Details: Applicant Name + NIB Number + BRS Application (e.g. John Doe NIB#12345 BRS Application)
2.Central Bank Digital Currency Sand Dollar Information
Direct payments to Receiver's Custom Name (alias): [email protected]
Allocation: Securities will be awarded in accordance with the Central Bank's priority-based auction allocation method, with first priority given to individuals applying for $250,000 or less. All other applicants-individuals greater than $250,000 and institutions-will be classified as Priority Level 2. Allotments may be prorated, as needed, depending on the total value of subscriptions
Grow/Shrink: Each security in this offering has the capacity to grow or shrink based on total subscriptions received for each tenor. The entire offer also has the capacity to grow or shrink, commensurate with overall demand. The issuer maintains the right to cap the offer, at its sole discretion.
Refunds: All refunds will be disbursed within three business days following the settlement date.
Certificates: Effective July 2020, the Central Bank discontinued the provision of physical bond certificates. Accordingly, successful applicants will receive an electronic copy of their allotments, via email, within three business days following settlement.