Bahamas Registered Stock IPO April 2020
Published: Monday April 6th, 2020
PROSPECTUS
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2023, 2025, 2027, 2030, 2040 AND 2050 ISSUE OF B$30,000,000 ISSUED
UNDER THE BAHAMAS REGISTERED STOCK ACT
Prospectus Date: April 06, 2020
| Issuer: |
Bahamas Government |
Open Date: |
April 8, 2020 (9:30 a.m.) |
| Registrar: |
Central Bank of The Bahamas |
Close Date: |
April 17, 2020 (3:00 p.m.) |
| Organizer: |
Central Bank of The Bahamas |
Settlement: |
April 21, 2020 |
| |
|
First Int Pmt: |
October 21, 2020 |
| |
|
Calendar: |
Actual/365 |
The Central Bank of The Bahamas will not accept applications after 3:00 p.m. each day.
| Security ID |
Issue Size (B$) |
Unit Share (B$) |
Tenor (Years) |
Interest (Fixed) |
Maturity |
Interest Payment |
| BGR136023 |
500,000.00 |
100 |
3 |
2.94% |
April 21, 2023 |
Semi-annual |
| BGR136025 |
250,000.00 |
100 |
5 |
3.45% |
April 21, 2025 |
Semi-annual |
| BGR136027 |
250,000.00 |
100 |
7 |
4.05% |
April 21, 2027 |
Semi-annual |
| BGR136030 |
2,000,000.00 |
100 |
10 |
4.76% |
April 21, 2030 |
Semi-annual |
| BGR136040 |
12,000,000.00 |
100 |
20 |
5.30% |
April 21, 2040 |
Semi-annual |
| BGR136050 |
15,000,000.00 |
100 |
30 |
5.69% |
April 21, 2050 |
Semi-annual |
| |
30,000,000.00 |
|
|
|
|
|
Amid the COVID-19 Pandemic the Central Bank will observe the below changes to the procedures for Bahamas Registered Stock Initial Public Offerings
Payments: Subscription amounts should be made electronically. Settlement instructions for Central
Bank as follows:
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
Requirements: (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.
Refunds: Refunds will be made within three business days following the settlement date. No interest will be paid on amounts refunded.
Certificates: Results will be made available on the Central Bank’s website, and successful applicants will be notified via email when certificates are available for collection. Amid the COVID-19 Pandemic, the Central Bank has suspended the printing and collection of physical certificates until further notice.
Allocation: Securities will be awarded in accordance with the Central Bank’s priority level allocation process, with priority given to individual applications in amounts up to $250,000. All other applications—individuals greater than $250,000 and institutions—will be classified as Priority Level 2 and may result in aproration in the event of an oversubscription.
Additional instructions regarding the Central Bank's amended procedures to accommodate the COVID-19 pandemic are attached.
