Bahrain Bourse (BHB) announced that as of Thursday, 9th of July 2020, 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 of BHB in the Government Islamic Leasing (Ijarah) Sukuk (BHD 125 million) that has been issued by the CBB on behalf of the Government of Bahrain by executing their orders through registered brokers at Bahrain Bourse. Thereafter, investors will be able to trade the Sukuk on the secondary market at BHB once listed on BHB, which is expected to be on the 6th of August 2020.
Bahrain Bourse specified that the subscription period through the registered brokers is effective on Thursday, 9th of July 2020 until Wednesday 15th of July 2020. The subscription will be open on Thursday until Tuesday from 9:30 AM until 1:00 PM and on Wednesday from 9:30 AM until 11:00 AM. Minimum subscription size is 500 Sukuk per subscriber. Allocation will be on the basis of the first 10,000 of Sukuk for each subscriber and the remaining quantity will be allocated on a pro-rata basis.
The BHD 125 million Sukuk issued at a par value of BHD 1 each on the 19th of July 2020 for a period of 6 years maturing on the 19th of July 2026. The annual fixed return on these securities is 4.50%, and will be paid bi-annually on 19th of January and 19th of July every year throughout the period of this issue.
The Central Bank of Bahrain issued the Government Islamic Leasing (Ijarah) Sukuk on behalf of the Government of Bahrain. The Government of Bahrain directly guarantees the Sukuk securities.