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Bahamas Registered Stock Initial Public Offering - August 2021 IPO Results

Published: Tuesday August 3rd, 2021



BAHAMAS REGISTERED STOCK (No. 8) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$30,000,000 ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021


Prospectus Date: August 3, 2021


Issuer: Bahamas Government Open Date: August 11, 2021 (9:30 a.m.)
Registrar: Central Bank of The Bahamas Close Date: August 13, 2021 (3:00 p.m.)
Organizer: Central Bank of The Bahamas Settlement: August 17, 2021
    First Int Pmt: February 17, 2021 
    Calendar: Actual/365


Security ID Issue Size (B$) Can Grow/Shrink? Unit Share(B$) Tenor (Years) Interest (Fixed) Maturity Interest Payment Final Distribution(B$)
BGR146024 2,000,000 Yes 100 3 3.60% August 17, 2024 Semi-annual 1,438,000
BGR146026 500,000 Yes 100 5 4.05% August 17, 2026 Semi-annual 612,600
BGR146028 500,000 Yes 100 7 4.70% August 17, 2028 Semi-annual 1,593,000
BGR146031 7,000,000 Yes 100 10 5.45% August 17, 2031 Semi-annual 803,200
BGR146041 7,000,000 Yes 100 20 6.00% August 17, 2041 Semi-annual 1,373,800
BGR146051 13,000,000 Yes 100 30 6.50% August 17, 2051 Semi-annual 8,186,100
  30,000,000             14,006,700

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 should be made electronically-in $100 increments-along with your application, via your commercial bank. Settlement instructions are as follows:

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)

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.