Africa-Press – Seychelles. The government, through the Ministry of Finance, National Planning and Trade (MoFNPT) is issuing three Treasury Bonds for fiscal purposes as per its Q4 Issuance Plan. The 3-year, 5-year and 7-year Bonds will be worth a total of R200 million.
All three Bonds will be available on auction basis, the allocation of which will take place on Monday October 31, 2022.
The application window for the auction will open on Monday October 24, 2022, one week prior to the allocation date, and will close at 8.30am on the auction day.
The 3-year, 5-year and 7-year Treasury Bonds will be earning a fixed interest rate of 3.15%, 4.65% and 6.15% per annum, respectively. Interest payments for the three bonds will be done half-yearly, on January 15 and July 15 and calculated on a 365-day year. The first payment of interest for all three bonds will be on January 15, 2023.
All three bonds will be issued in multiples of R1,000 with a minimum value of R1,000.
The auction will be both on a competitive and non-competitive basis, with the former available to depository institutions, the Seychelles Pension Fund and insurance companies. The non-competitive auction will be available to all other eligible investors. The issuance of the bonds is applicable to both residents and non-residents having a Seychelles Rupee account with a local financial institution, in all cases.
The issuance and management of the bonds will be undertaken by the Central Bank of Seychelles (CBS). The prospectuses will be published in the Seychelles NATION and TODAY in Seychelles today, Saturday October 22, 2022 and Monday October 24, 2022. Copies of the prospectuses and application forms can also be downloaded from the CBS website: https://www.cbs.sc/GovernmentDebt/Bonds/bonds.html.
The bonds are being issued as part of the government’s strategy to increase the frequency of bond issuances.
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