Bahrain Bourse lists BD285m Govt bond

Manama : Bahrain Bourse yesterday announced the listing of the Government Development Bond – Issue No. 13, which begins trading today under the symbol GDEV13.BND.

The BD285 million bonds were issued at a par value of BD1 each on 10th November 2016 for a period of 7.5 years ending 10th May 2024.

The annual fixed return on these securities is 5.875 per cent, and will be paid every six months on 10th November and 10th May every year throughout the period of this issue. The bonds has been issued by the CBB on behalf of the Government.

As of Monday, investors will be able to sell and buy the bonds by placing their orders through the brokers who will feed them into the trading system.

The system will automatically match the orders with the price priority then time priority, with a minimum of BD400 per transaction in the primary market.

With this issue, the number of conventional bonds and sukuk issues listed on BHB has reached 14 issues with an approximate total value of US$6.243 billion.