Bahamas Registered Stock IPO June 2020
Published: Tuesday June 2nd, 2020
PROSPECTUS
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2023,2025,2027,2030,2040 AND 2050 ISSUE OF B$24,000,000 ISSUED UNDER THE
BAHAMAS REGISTERED STOCK ACT
Prospectus Date: June 02, 2020
| Issuer: |
Bahamas Government |
Open Date: |
June 09, 2020 (9:30 a.m.) |
| Registrar: |
Central Bank of The Bahamas |
Close Date: |
June 11, 2020 (3:00 p.m.) |
| Organizer: |
Central Bank of The Bahamas |
Settlement: |
June 15, 2020 |
| |
|
First Int Pmt: |
December 15, 2020 |
| |
|
Calendar: |
Actual/365 |
The Central Bank of The Bahamas will not accept applications after 3:00 p.m. each day.
| Security ID |
Issue Size (B$) |
Unit Share (B$) |
Tenor (Years) |
Interest (Fixed) |
Maturity |
Interest Payment |
| BGR138023 |
500,000.00 |
100 |
3 |
3.05% |
June 15, 2023 |
Semi-annual |
| BGR138025 |
250,000.00 |
100 |
5 |
3.60% |
June 15, 2025 |
Semi-annual |
| BGR138027 |
250,000.00 |
100 |
7 |
4.25% |
June 15, 2027 |
Semi-annual |
| BGR138030 |
2,000,000.00 |
100 |
10 |
5.00% |
June 15, 2030 |
Semi-annual |
| BGR138040 |
9,000,000.00 |
100 |
20 |
5.60% |
June 15, 2040 |
Semi-annual |
| BGR138050 |
12,000,000.00 |
100 |
30 |
6.05% |
June 15, 2050 |
Semi-annual |
| |
24,000,000.00 |
|
|
|
|
|
Amid the COVID-19 Pandemic the Central Bank will observe thebelow changes to the procedures for Bahamas Registered Stock Initial Public Offerings
Payments: Subscription amounts should be made electronically. Settlement instructions for Central
Bank 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
Requirements: (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.
Refunds: Refunds will be made within three business days following the settlement date. No interest will be paid on amounts refunded.
Certificates: Results will be made available on the Central Bank’s website, and successful applicants will be notified via email when certificates are available for collection. Amid the COVID-19 Pandemic, the Central Bank has suspended the printing and collection of physical certificates until further notice.
Allocation: Securities will be awarded in accordance with the Central Bank's priority level allocation process, with priority given to individual applications in amounts up to $250,000. All other applications-individuals greater than $250,000 and institutions-will be classified as Priority Level 2 and may result in a proration in the event of an oversubscription.
Liquidation: The early redemption of securities with maturities less than 20 years can be processed via the Central Bank. Securities with time to maturity greater than 20 years cannot be held by the Central Bank. Secondary market transactions for such securities must take place investor-to-investor.
Additional instructions regarding the Central Bank's amended procedures to accommodate the COVID-19 pandemic are attached.
