December 2024 Short-Term BRS Prospectus
Published: Wednesday November 27th, 2024
PROSPECTUS
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2025 ISSUE OF B$107,567,200 ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021
Prospectus Date: 26th November, 2024
| Issuer: |
Bahamas Government |
Open Date: |
9th December, 2024 (9:30 a.m.) |
| Registrar: |
Central Bank of The Bahamas |
Close Date: |
11th December 2024 (3:00 p.m.) |
| |
|
Auction Date: |
13th December, 2024 |
| Organizer: |
Central Bank of The Bahamas |
Settlement: |
16th December, 2024 |
| Minimum: |
$100 |
First Int. Pmt: |
16th June, 2025 |
| Increment: |
$100 |
Calendar: |
Actual/365 |
| Security ID |
Issue Size ($) |
Can Grow/Shrink? |
Unit Share(B$) |
Tenor (Years) |
Interest Fixed |
Maturity |
Interest Payment |
| BSBGR1810252 |
107,567,200 |
Yes |
100 |
1 |
3.31% |
16-Dec-25 |
Semi-annual |
| |
107,567,200 |
Yes |
|
|
|
|
|
Instructions for participation in this Initial Public Offering are outlined below.
(1) Non-competitive Participation: The minimum bid is $100 with an upper limit of B$500,000 for the non-competitive bidding option.
a) BISX Registered Broker-Dealer Customers: Submit applications through your broker-dealer, following their instructions/guidelines.
b) Central Bank Customers: Prospective investors, submit application via the Bahamas Securities Portal.
(2) Competitive Participation: The minimum bid is $100 with no upper limit for the competitive bidding option.
a)BISX Registered Broker-Dealer Customers: Submit applications through your respective broker-dealer, following the instructions/guidelines.
b)Central Bank Customers: Prospective investors wishing to bid competitively should contact the Bank via email to [email protected] or via telephone at (242) 302-2620.
Allocation: Initial Public Offerings will no longer prioritize bids for “individual” investors. Instead, the bid allocation process will consider (1) the bid value, (2) the total value of all valid bids, and (3) the total offering amount. The methodology will prorate allocations across all bidders (individuals and institutions). In some cases, when offers are oversubscribed, very low-value bids are less likely to receive allocations.
Grow/Shrink: Each security in this offering has the capacity to grow or shrink based on the 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.
New Institutional Investors: New institutional investors may participate through a BISX registered broker-dealer, a list of which may be found at: https://bisxbahamas.com/broker-dealers.
