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Central Bank of The Bahamas

10/07/2021 | Press release | Distributed by Public on 10/07/2021 14:11

Bahamas Registered Stock Initial Public Offering - October 2021

Bahamas Registered Stock Initial Public Offering - October 2021

Published: Thursday October 7th, 2021

THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS

BAHAMAS REGISTERED STOCK (No. 2) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$32,658,400 ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021

Prospectus Date: October 8, 2021

Issuer: Bahamas Government Open Date: October 13, 2021 (9:30 a.m.)
Registrar: Central Bank of The Bahamas Close Date: October 15, 2021 (3:00 p.m.)
Organizer: Central Bank of The Bahamas Settlement: October 19, 2021
Minimum: $100 First Int Pmt: February 17, 2022 (short)
Increment: $100 Calendar: Actual/365
Security ID Issue Size (B$) Can Grow/Shrink? Unit Share(B$) Tenor (Years) Interest (Fixed) Maturity Interest Payment
BGR146224 2,000,000 Yes 100 3 3.60% 17-Aug-24 Semi-annual
BGR146226 2,000,000 Yes 100 5 4.05% 17-Aug-26 Semi-annual
BGR146228 2,000,000 Yes 100 7 4.70% 17-Aug-28 Semi-annual
BGR146231 4,000,000 Yes 100 10 5.45% 17-Aug-31 Semi-annual
BGR146241 10,000,000 Yes 100 20 6.00% 17-Aug-41 Semi-annual
BGR146251 12,658,400 Yes 100 30 6.50% 17-Aug-51 Semi-annual
32,658,400

Instructions for participation in this Initial Public Offering are outlined below:

Application: Complete the electronic application form. Sign and submit the application form to the Markets Unit IPO 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.

Payment: 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:

i)Bank Wire Information:
Beneficiary Bank: Central Bank of The Bahamas
BIC: CBBHBSNS(XXX)
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)
ii)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: Successful applicants will receive an electronic copy of their allotments, via email, within three business days following settlement.

(The Central Bank discontinued the provision of physical bond certificates effective July 2020.)