Bahamas Registered Stock IPO Prospectus December 2021 - IPO Results

Published: Wednesday December 1st, 2021

Amended: Tuesday December 14th, 2021

 

THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS

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$)	Tenor (Years)	Interest Fixed	Maturity	Interest Payment		Final Distribution  (B$)
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
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.)