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Bahamas Registered Stock IPO Prospectus December 2021 - IPO Results

Published: Wednesday December 1st, 2021
Amended: Tuesday December 14th, 2021



BAHAMAS REGISTERED STOCK (No. 5) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$68,447,800 ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021


Prospectus Date: December 1, 2021


Issuer: Bahamas Government Open Date: December 7, 2021 (9:30 a.m.)
Registrar: Central Bank of The Bahamas Close Date: December 9, 2021 (3:00 p.m.)
Organizer: Central Bank of The Bahamas Settlement: December 14, 2021
Minimum: $100 First Int. Pmt: May 16, 2022 (short)
Increment: $100 Calendar: Actual/365

Central Bank of The Bahamas must be in receipt of all applications and funds before 3 p.m. on December 9, 2021.

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

Final Distribution 


BGR148124 10,000,000 Yes 100 3 3.60% 16-Nov-24 Semi-annual   10,305,700
BGR148126 5,000,000 Yes 100 5 4.05% 16-Nov-26 Semi-annual   541,100
BGR148128 3,000,000 Yes 100 7 4.70% 16-Nov-28 Semi-annual   663,400
BGR148131 8,000,000 Yes 100 10 5.45% 16-Nov-31 Semi-annual   2,232,700
BGR148141 10,000,000 Yes 100 20 6.00% 16-Nov-41 Semi-annual   1,904,200
BGR148151 32,447,800 Yes 100 30 6.50% 16-Nov-51 Semi-annual   7,566,500
  68,447,800               23,213,600

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
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.)