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May $20M Prospectus

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05/25/2020 | 06:33am EDT

PROSPECTUS

THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS

BAHAMAS REGISTERED STOCK 2040 AND 2050 ISSUE OF B$20,000,000 ISSUED UNDER THE BAHAMAS

REGISTERED STOCK ACT

Prospectus Date: May 1, 2020

Issuer:

Bahamas Government

Open Date:

May 11, 2020 (9:30 a.m.)

Registrar:

Central Bank of The Bahamas

Close Date:

May 13, 2020 (3:00 p.m.)

Organizer:

Central Bank of The Bahamas

Settlement:

May 15, 2020

First Int. Pmt:

October 21, 2020 (short)

Calendar:

Actual/365

The Central Bank of The Bahamas will not accept applications after 3:00 p.m. each day.

Security ID

Issue Size

Unit Share

Tenor

Interest

Maturity

Interest

(B$)

(B$)

(Years)

(Fixed)

Payment

BGR136140

10,000,000.00

100

20

5.30%

April 21, 2040

Semi-annual

BGR136150

10,000,000.00

100

30

5.69%

April 21, 2050

Semi-annual

20,000,000.00

Amid the COVID-19 Pandemic the Central Bank will observe the below changes to the procedures for

Bahamas Registered Stock Initial Public Offerings

Payments: Subscription amounts should be made electronically. Settlement instructions for Central Bank are 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 remaining maturities beyond 20 years must be executed in the market. The Central Bank will not purchase such securities.

ADDITIONAL INSTRUCTIONS REGARDING THE CENTRAL BANK'S AMENDED PROCEDURES TO

ACCOMODATE THE COVID-19 PANDEMIC ARE ATTACHED

Disclaimer

Central Bank of The Bahamas published this content on 05 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2020 10:32:06 UTC

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