Bahrain Bourse (BHB) announced that as of Sunday, 7th of March 2021, 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 Development Bond Issue 23 (BHD 200 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 Bond on the secondary market at BHB once listed, which is expected to be on the 28th of March 2021.
Bahrain Bourse specified that the subscription period through the registered brokers is effective on Sunday, 7th of March 2021 starting from 09:30 AM until Wednesday, 10th of March 2021. The subscription will be open on Sunday until Tuesday from 09:30 AM until 1:00 PM and on Wednesday from 09:30 AM until 10:15 AM. Minimum subscription size is 500 bond per subscriber. Allocation will be on the basis of the first 10,000 of bonds for each subscriber and the remaining quantity will be allocated on a pro-rata basis.
The BHD 200 million Bond issued at a par value of BHD 1 each on the 14th of March 2021 for a period of 6 years maturing on the 14th of March 2027. The annual fixed return on these securities is 4.00%, and will be paid bi-annually on 14th of March and 14th of September every year throughout the period of this issue.
The Central Bank of Bahrain issued the Government Development Bond on behalf of the Government of Bahrain. The Government of Bahrain directly guarantees the Bond securities.