BAHAMAN GOVERNMENT TREASURY BILL TERM SHEET


BAHAMAS GOVERNMENT TREASURY BILL TERM SHEET – November 2021

Posted: Tuesday November 9 2021

BAHAMAN GOVERNMENT TREASURY LAW
TERMS SHEET

Call for tenders date: November 12, 2021

Security ID Issue size ($ billion) Can grow / shrink? Unit share ($ billion) Tenor (days) Settlement date Due date

TB000-610

178,879,000

Yes

100

91

16-Nov-21

15-Feb-22

TB000-611

10,000,000

Yes

100

182

16-Nov-21

17-May-22

Total 189,879,000

The instructions for participating in the tender for treasury bills are described below:

The public can participate in the tendering process in two ways:

(1) Competitive participation (Offers with a face value of $ 500,000 or more) – Potential investors submit offers providing a bid rate and the corresponding price for consideration. Offers must be submitted electronically, in PDF format, to [email protected], later before 3:00 p.m. on the day of the call for tenders.

Example of purchase of 91-day treasury bills by a competing participant:
[Investor name] hereby offers 91-day Treasury Bills of a face value of $ 1,000,000 priced at $ 99.3874 at a discount rate of 2.4572%.

(2) Non-competitive participation (face value less than $ 500,000) – following the initial bidding process and depending on availability, investors can buy at the market derived discount rate. Potential investors should contact the Markets Unit at [email protected]expressing interest in purchasing treasury bills available through the secondary market. Non-competitive investors are allowed to buy 91 and 182 day Treasury bills.

Example of purchase of 91-day treasury bills by a non-competitive participant:
“[Investor name] wishes to invest in 91-day treasury bills with a face value of $ 100,000 at market rate.

Allocation:Competitive participation – Successful participants will receive a confirmation on the first working day following the call for tenders.

Purchase price:Non-competitively participating investors will buy at the average discount rate derived from the tender, i.e. at the market rate. For an uncompetitive investor purchasing $ 100,000 of 91-day treasury bills at the prevailing average discount rate of 2.568% on April 22, 2021, the cost was $ 99,359.76 **.

** Date of issue: April 22, 2021
Due Date: July 22, 2021
Cost to investor $ 99,359.76 = $ 100,000 – ($ 100,000 * 2.568% * (91/365)
Face value – [Face Value * Average Discount Rate * (Days to Maturity/365)]

Instructions:Settlement payments can be made electronically through a commercial bank Where digitally via Sand Dollar in accordance with the user’s wallet limit.
The payment instructions are as follows:

i) Information on bank transfers:
Beneficiary bank:

Central Bank of the Bahamas

BIC:

CBBHBSNS (XXX)

Account:

CBOB General Account 1315010051

Branch code:

10,000 (if applicable)

Details:

Applicant name + NIB number + TBill Tender (e.g. John Doe NIB # 12345 TBill Tender)

ii) Central Bank Digital Currency Sand Dollar Information:

Direct payments to the recipient’s personalized name (alias):
[email protected]

Grow / Shrink:Each title in this offer has the ability to increase or decrease based on the total number of bids received. The whole supply also has the ability to grow or shrink. The issuer reserves the right to cap the offer, at its sole discretion.

Disclaimer

Central Bank of the Bahamas published this content on November 09, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 09 November 2021 22:42:51 UTC.

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