Bahamas Registered Stock Secondary Market Offer March 2023 - Results
Published: Friday March 10th, 2023
Amended: Monday March 27th, 2023
SECONDARY MARKET TERM SHEET
Bahamas Registered Stock
Secondary Market Offer
Release Date: 10th March, 2023
| Issuer: |
Bahamas Government |
Open Date: |
15th March, 2023 (9:30 a.m.) |
| Registrar: |
Central Bank of The Bahamas |
Close Date: |
17th March, 2023 (3:00 p.m.) |
| Organizer: |
Central Bank of The Bahamas |
Settlement: |
22nd March, 2023 |
| Minimum: |
$100 |
|
|
| Increment: |
$100 |
|
|
Central Bank of The Bahamas must be in receipt of all applications and funds before 3 p.m. on 17th March, 2023.
| Security ID |
Volume Available |
Unit Share |
Price Per Unit |
Accrued Interest Per Unit |
Approx. Term to Maturity |
Effective Rate (%)* |
Yield (%) |
Maturity Date |
|
Final
Distribution
(B$)
|
| BGRS77026 |
3,000,000 |
$100 |
$100.23 |
$1.725000 |
3 |
4.56250 |
4.55 |
4-May-26 |
|
2,866,000.00 |
| BGRS88028 |
4,000,000 |
$100 |
$100.51 |
$0.652967 |
5 |
4.33333 |
4.31 |
26-July-28 |
|
- |
| BGRS89030 |
1,000,000 |
$100 |
$100.14 |
$1.859075 |
7 |
4.40625 |
4.40 |
19-Oct-30 |
|
7,300.00 |
| BGRS84033 |
1,000,000 |
$100 |
$100.03 |
- |
10 |
4.68750 |
4.69 |
22-Sept-33 |
|
663,000.00 |
| BGRS88037 |
2,000,000 |
$100 |
$100.54 |
$0.667094 |
14 |
4.42708 |
4.40 |
26-July-37 |
|
14,000.00 |
| BGR131249 |
2,000,000 |
$100 |
$90.94 |
$1.012602 |
26 |
5.60000 |
6.31 |
15-July-49 |
|
122,800.00 |
| BGR132249 |
1,000,000 |
$100 |
$90.95 |
$2.445753 |
26 |
5.65000 |
6.36 |
15-Oct-49 |
|
1,021,700.00 |
| BGR142251 |
1,000,000 |
$100 |
$99.87 |
$0.613698 |
28 |
6.40000 |
6.41 |
15-Feb-51 |
|
352,300.00 |
| |
15,000,000 |
|
|
|
|
|
|
|
|
5,047,100.00 |
*Complete security details can be found in the addendum which is published online at:
https://www.centralbankbahamas.com/viewPDF/documents/2023-03-09-17-52-39-BRS-Secondary-Market-Addendum---March-2023.pdf
Instructions for participation in this Secondary Market Offering are outlined below for:
New and Existing Individual Investors
Existing Institutional Investors
Application: (1) Submit application via the BRS Application Portal (enrolment required). New and existing individual investors may enrol and submit applications by visiting the following link: https://www.centralbankbahamas.com/bahamas-registered-stock-portal
(2) 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.
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: As received (FIFO).
Cost Calculation: (1) Calculations are generated automatically when submitting bids via the BRS Portal. https://www.centralbankbahamas.com/bahamas-registered-stock-portal
(2) Use online calculator at https://www.centralbankbahamas.com/news/brs-secondary-market-prices/brs-secondary-market-cost-calculator-march-2023?N=N
Or, (3) Calculate manually as per below example:
Client wants to buy 100 bonds from security ID BGR132249 (Nominal value of purchase = 100 x $100 = $10,000)
Step 1: Calculate cost of principal (100 bonds X $90.94 = $9,094.00)
Step 2: Calculate cost of accrued interest (100 x $1.012602 = $101.26)
Step 3: Calculate total cost ($9,094 + $101.26 = $9,195.26)
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.)
