Bahamas Registered Stock Initial Public Offering April 2021 IPO Results
Published: Tuesday April 6th, 2021
PROSPECTUS
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK (No. 5) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$25,465,000
ISSUED UNDER THE BAHAMAS REGISTERED STOCK ACT
Prospectus Date: April 6, 2021
| Issuer: |
Bahamas Government |
Open Date: |
April 12, 2021 (9:30 a.m.) |
| Registrar: |
Central Bank of The Bahamas |
Close Date: |
April 14, 2021 (3:00 p.m.) |
| Organizer: |
Central Bank of The Bahamas |
Settlement: |
April 16, 2021 |
| |
|
First Int Pmt: |
August 15, 2021 (short) |
| |
|
Calendar: |
Actual/365 |
| Security ID |
Issue Size (B$) |
Can Grow/Shrink? |
Unit Share(B$) |
Tenor (Years) |
Interest (Fixed) |
Maturity |
Interest Payment |
Final Distribution (B$) |
| BGR142224 |
3,000,000 |
Yes |
100 |
3 |
3.50% |
February 15, 2024 |
Semi-annual |
4,920,100 |
| BGR142226 |
3,000,000 |
Yes |
100 |
5 |
4.00% |
February 15, 2026 |
Semi-annual |
6,726,400 |
| BGR142228 |
2,000,000 |
Yes |
100 |
7 |
4.65% |
February 15, 2028 |
Semi-annual |
162,600 |
| BGR142231 |
2,000,000 |
Yes |
100 |
10 |
5.40% |
February 15, 2031 |
Semi-annual |
2,501,100 |
| BGR142241 |
5,465,000 |
Yes |
100 |
20 |
5.95% |
February 15, 2041 |
Semi-annual |
5,604,500 |
| BGR142251 |
10,000,000 |
Yes |
100 |
30 |
6.40% |
February 15, 2051 |
Semi-annual |
11,620,800 |
| |
25,465,000 |
|
|
|
|
|
|
31,535,500 |
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
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)
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.
