Bahamas Registered Stock Initial Public Offering - November 2021 IPO Results
Published: Friday November 5th, 2021
Amended: Monday November 15th, 2021
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK (No. 4) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$20,000,000 ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021
Prospectus Date: November 3, 2021
| Issuer: |
Bahamas Government |
Open Date: |
November 9, 2021 (9:30 a.m.) |
| Registrar: |
Central Bank of The Bahamas |
Close Date: |
November 11, 2021 (3:00 p.m.) |
| Organizer: |
Central Bank of The Bahamas |
Settlement: |
November 16, 2021 |
| Minimum: |
$100 |
First Int Pmt: |
May 16, 2022 |
| Increment: |
$100 |
Calendar: |
Actual/365 |
| Security ID |
Issue Size (B$) |
Can Grow/Shrink? |
Unit Share(B$) |
Tenor (Years) |
Interest (Fixed) |
Maturity |
Interest Payment |
|
Final Distribution (B$) |
| BGR148024 |
2,000,000 |
Yes |
100 |
3 |
3.60% |
16-Nov-24 |
Semi-annual |
|
2,757,000
|
| BGR148026 |
1,000,000 |
Yes |
100 |
5 |
4.05% |
16-Nov-26 |
Semi-annual |
|
2,530,500
|
| BGR148028 |
1,000,000 |
Yes |
100 |
7 |
4.70% |
16-Nov-28 |
Semi-annual |
|
70,000
|
| BGR148031 |
2,000,000 |
Yes |
100 |
10 |
5.45% |
16-Nov-31 |
Semi-annual |
|
732,000
|
| BGR148041 |
2,000,000 |
Yes |
100 |
20 |
6.00% |
16-Nov-41 |
Semi-annual |
|
723,000
|
| BGR148051 |
12,000,000 |
Yes |
100 |
30 |
6.50% |
16-Nov-51 |
Semi-annual |
|
8,834,100
|
| |
20,000,000 |
|
|
|
|
|
|
|
15,646,600
|
Instructions for participation in this Initial Public Offering are outlined below:
Application: Complete the electronic application form. Sign and submit the application form to the Markets Unit IPO 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.
Payment: Subscription payments may be made electronically via commercial bank or digitally via Sand Dollar in accordance with the user’s wallet limit.
Settlement instructions are as follows:
| i)Bank Wire Information: |
| 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 (e.g. John Doe NIB#12345 BRS Application) |
| ii)Central Bank Digital Currency Sand Dollar Information: |
Direct payments to Receiver's Custom Name (alias):
[email protected] |
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: Successful applicants will receive an electronic copy of their allotments, via email, within three business days following settlement.
(The Central Bank discontinued the provision of physical bond certificates effective July 2020.)
