Government issues 3 treasury bonds for fiscal purposes | 26 January 2021
The government, through the Ministry of Finance, Economic Planning and Trade is issuing three treasury bonds for fiscal purposes.
Altogether, the three-year, five-year and seven-year bonds are worth a total of R1.5 billion and they will be available on tap as from Thursday January 28, 2021.
The three-year bond worth R300 million will be earning a fixed interest rate of 7% per annum, paid annually on March 20 and calculated on a 365-day year.
The five-year bond worth R700 million and the seven-year bond worth R500 million will be earning fixed interest rates of 8% and 10%per annum, respectively. Interests for both bonds will be paid half-yearly on March 20 and September 20 and calculated on a 365-day year.
All three bonds will be issued in multiples of R1,000 with a minimum value of R1,000.
The bonds can be purchased by adult individuals (singly or jointly), commercial banks, corporate bodies, institutions, clubs, societies and other organisations. The issuance of the bonds is applicable to both residents and non-residents, 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 newspapers of Tuesday January 26, Wednesday January 27 and Thursday January 28, 2021. Copies of the prospectuses and application forms can also be downloaded from the CBS website: www.cbs.sc.
The bonds are being issued as part of government’s efforts to raise funding for additional spending in light of the continuous impact of the Covid-19 pandemic on the Seychelles economy.
Press release from the Ministry of Finance, Economic Planning and Trade