Bahamas Registered Stock Initial Public Offering - September 2021 IPO Results

Published: Wednesday September 1st, 2021

Amended: Wednesday September 15th, 2021

PROSPECTUS THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS BAHAMAS REGISTERED STOCK (No. 2) 2024, 2026, 2028, 2031, 2041 AND 2051 ISSUE OF B$40,000,000

ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021

Prospectus Date: September 3, 2021

Issuer:	Bahamas Government	Open Date:	September 8, 2021 (9:30 a.m.)
Registrar:	Central Bank of The Bahamas	Close Date:	September 10, 2021 (3:00 p.m.)
Organizer:	Central Bank of The Bahamas	Settlement:	September 14, 2021
Minimum:	$100	First Int Pmt:	February 17, 2022 (short)
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$)
BGR146124	4,000,000	Yes	100	3	3.60%	August 17, 2024	Semi-annual		383,700
BGR146126	1,000,000	Yes	100	5	4.05%	August 17, 2026	Semi-annual		762,900
BGR146128	1,000,000	Yes	100	7	4.70%	August 17, 2028	Semi-annual		58,200
BGR146131	8,000,000	Yes	100	10	5.45%	August 17, 2031	Semi-annual		4,203,800
BGR146141	8,000,000	Yes	100	20	6.00%	August 17, 2041	Semi-annual		1,282,800
BGR146151	18,000,000	Yes	100	30	6.50%	August 17, 2051	Semi-annual		9,997,700
	40,000,000								16,689,100

 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 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:

1. 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)

2. 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: 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.