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Bahamas Registered Stock Initial Public Offering - May 2021 IPO Results

Published: Thursday May 6th, 2021
Amended: Tuesday May 18th, 2021


BAHAMAS REGISTERED STOCK (No. 6) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$15,000,000


Prospectus Date: May 6, 2021

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


Security ID Issue Size (B$) Can Grow/Shrink? Unit Share(B$) Tenor (Years) Interest (Fixed) Maturity Interest Payment  



BGR145024 2,000,000 Yes 100 3 3.55% May 17, 2024 Semi-annual   222,600
BGR145026 2,000,000 Yes 100 5 4.05% May 17, 2026 Semi-annual   104,000
BGR145028 500,000 Yes 100 7 4.70% May 17, 2028 Semi-annual   743,000
BGR145031 500,000 Yes 100 10 5.45% May 17, 2031 Semi-annual   757,700
BGR145041 3,000,000 Yes 100 20 6.00% May 17, 2041 Semi-annual   722,300
BGR145051 7,000,000 Yes 100 30 6.45% May 17, 2051 Semi-annual   4,323,900
  15,000,000               6,873,500

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.