Government bond oversubscribes 125% to BD438m

The Central Bank of Bahrain (CBB) on Tuesday said that the issue of the seven and half year Government development bonds has been oversubscribed by 125%.

Subscriptions worth BD 438 million were received for the BD 350 million issues, which carries a maturity of 7.5 years.

The expected interest rate on the issue, which begins on 12 September 2013 and matures on 12 March 2021, is 5.50%.

The Government Development Bond are issued by the CBB on behalf of the Government of the Kingdom of Bahrain.